Vancouver Property Tax Policy Review

The City of Vancouver has commissioned a review of its property tax policy, with the first phase completed by Ernst & Young LLP. The review aims to assess the city's property tax policy, effectiveness of mitigation tools, tax share approach, and other metrics to gauge Vancouver's business climate and competitiveness compared to neighboring municipalities.

• The review found no compelling evidence to warrant a tax shift between non-residential and residential property classes at this time.
• The review examined a portfolio of non-residential and residential metrics, as well as recent economic development, and the City's expert advisors agree with the conclusion.
• The review was conducted in two phases, with Phase I delivered in time to inform Council's deliberation on the 2024 tax distribution.

• April 24, 2024: The Council's Standing Committee on City Finance and Services will receive the report for information.
• The City Manager concurs with the recommendations in the report.