Canadian Property Tax Rate Benchmark Report 2021

REALPAC/Altus Group

Altus Group and REALPAC are pleased to release the Canadian Property Tax Rate Benchmark Report for 2021 which provides an in-depth look at commercial and residential property tax rates in 11 cities across Canada, and reveals that some cities are potentially exposed to an unfair property tax system.

The report looked at two variables which affect property tax rates – property market value assessments, which are carried out by Provincial governments, and the commercial-to-residential tax ratio. The research found that the market value assessments in some cities are severely delayed and outdated, and that the commercial-to-residential tax ratio is up by 3.0% compared to 2020, meaning a greater tax burden for businesses in those cities.

The findings of this report are used by Altus Group and REALPAC to create dialogue with taxing authorities about tax fairness, influence public policy, and promote a healthy and competitive business environment for the real estate sector.

The report includes:

  1. 2021 commercial-to-residential tax ratios
  2. 2021 commercial rates
  3. 2021 residential rates
  4. 2003 – 2021 trend analysis
  5. Spotlight: How current are your city’s property assessments?