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Vancouver's business property tax regime ranked high for transparency and simplicity

November 24 2015

Vancouver City Hall

A recently released report by the C.D. Howe Institute ranks Vancouver's business property tax regime as one of the simplest to understand and most transparent of all major Canadian municipalities, receiving an "A" in transparency and a "B" in simplicity.

"This report from the C.D. Howe Institute is important further validation of the City of Vancouver's work to keep taxes low, reduce red tape, and grow our innovative economy," said Mayor Gregor Robertson.

"The Conference Board of Canada has projected that Vancouver will lead the country in economic growth this year and for every year through 2019, and that leadership is supported by Vancouver having one of the most transparent budgeting programs and lowest tax rates for businesses."

The report card measures property tax impact on business investments

The C.D. Howe Institute developed the Business Property Tax Report Card which looks at the ease with which investors can determine the effective business property tax rates they face on a given investment in real property in a particular municipality.

Obtaining these estimates can be easy or difficult depending on the structural features of cities' assessments and tax policies, as well as the level of information cities make available.

The report card then rated cities on two levels:

  1. Transparency, the amount of information that is made available
  2. Simplicity, the structural features of assessment and tax policies

The City of Vancouver received an "A" in transparency and a "B" in simplicity for its efforts to ensure that its business property tax regime is easy to understand and provides the relevant information.

The report also highlighted that Vancouver has one of the lowest business property tax rates in Canada.

View the report card on the C.D. Howe website