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Commercial Real Estate Property Tax Ratios in Vancouver, BC
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(Posted on Nov 10, 2018 at 08:57PM by Danielle Smyth)
The commercial real estate property tax ratio is high in Canada, says a recent report. In fact, commercial taxes are almost three times as high as property taxes. In Vancouver, the ratio is even higher, at four to one. This is in spite of the fact that the city had the largest decrease, of 9.72 percent, and the largest drop in its commercial tax rate, at 12.78 percent. This is because commercial real estate values increased at a higher rate than residential values.According to the article, Vancouver remains a hot market for commercial real estate. This is great news for investors. Having a sizable tax base of commercial buildings in the city is a wonderful thing, as it encourages growth and makes the city seem like a great place for businesses to move. Toronto, also, is doing very well in this regard and remains a wonderful place for investors.
If you’re interested in learning more about opportunities for investment throughout Canada or about how commercial real estate property tax ratios can be beneficial for you, get in touch with Marcus & Millichap's Vancouver office. One of our experienced commercial real estate advisors will be happy to provide additional information.
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