It’s property tax time in the province of British Columbia and I just paid my property taxes for my apartment for the third time. As some of you know, the price of real estate here in Vancouver can be outrageous. For my first year, my taxes were well under $1000 which was quite reasonable. The next year, my taxes went up 16%, mainly because my apartment was now being assessed at fair market value. This year, the increase, at 5%, was more in line with what I’ll see in the future. My taxes this year were just over $1000. All of this for an apartment that is 620 sq. foot in size.
How does that compare with where you live?!?!?! How much tax do you pay for your penthouse condo in Dubai?