<<< back to article list

Understanding your 2017 Property Taxes


  • +1

Blog by Liz Penner | January 5th, 2017


Follow: Follow Me On Facebook Follow Me On Twitter
Image
Liz Penner 604-376-3350
 
2017 property tax information for the  Township of Langley and the City of Surrey
Image

Many homes in the lower mainland have seen their tax bill increase drastically but that does that mean for you? I’ve included some useful information below to allow you to calculate your 2017 property taxes if you are living in Langley or Surrey. I’ve taken the information from the City of Surrey web site and the Township of Langley’s web sites. 

I have expressed the tax calculations below as a total without the homeowners grant. You can subtract the homeowners grant that applies to you.

Property Tax Homeowner Grant

Your Property’s Value & Location: If your property has an assessedor partitioned value of $1,200,000 or less, the home owner grant may reduce your taxes up to $570 or, if it’s located in a northern and rural area, up to $770 or if you are 65 years or older the grant will be up to $845.00

If you meet all requirements but your property’s assessed or partitioned value is over $1,200,000, you may qualify for the grant at a reduced amount.

The grant is reduced by $5 for each $1,000 of assessed value over $1,200,000. This means the grant isn’t available for properties assessed over $1,314,000 ($1,354,000 in a northern and rural area).

For more information on the homeowner grant go to: 

http://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/reduce/home-owner-grant/apply#who-can-apply

Surrey Tax Rates

If you live in Surrey then your residential property tax rate for 2017 is 4.44468 per thousand dollars of assessed value. Then you add on your utility rate (see chart below).

To calculate: Assessed value of home X 0.0044468 + the utility rate that applies from the table below.

For example if I owned a condo worth $200,000 then I would multiply $200,000 x .0044468 + 550 for strata sewer and water combined. My total would be $1,439.36.

Utility Rates
Single Family Home
Water $839
Sewer $634
Total   $1473
House with Suite
Water $1161
Sewer $1214
Total   $2375
Strata (multi family)
Water $322
Sewer $218
Total $550

For more information regarding the City of Surrey 2017 taxes go to: 

http://www.surrey.ca/city-services/4690.aspx

Township of Langley tax rates:

The township of Langley has an easy to use property tax estimator online. All you have to do is input your assessed value and it will calculate the total. Below is a link. The taxes are estimated as the gross and you can subtract any grant you qualify for from the total. 

http://www.tol.ca/About-the-Township/Municipal-Government/Taxes/Property-Tax-Estimator

 
BC Assessment has mailed 2017 assessment notices to home owners throughout the province. Below are a few links that will help you guide your clients regarding their recent assessment, and provide more information:

In light of the impact of this year’s assessment increases, the BC Government announced this week that they will be reviewing the homeowner grant threshold level.

According to Landcor Data Corporation, for the first time in Metro Vancouver’s history, more homeowners will NOT qualify for the Homeowners’ Grant this year compared to those who will qualify.

Here are Landcor’s numbers:

  • 213,412 households will lose all or part of the grant
  • 206,745 households will keep the grant

Given the election coming up on May 9, look for a provincial announcement over the coming days.

JUST SOLD
Calera 2 bedroom, 2 bathroom condo
$309,900​​​​​​​
322-18818 68 Ave.
322-18818 68 Ave
Cloverdale, BC
Size: 762 SqFt
Bedrooms: 2
Bathrooms: 2
Parking Stalls: 2
Click here for more info
JUST SOLD
Waterstone 1 bedroom condo overlooking courtyard
$309,900
406-6460 194 Street.
408-6460 194 St.
Cloverdale, BC
Size: 592 SqFt
Bedrooms: 1
Bathrooms: 1
Parking Stalls: 2
Click here for more info
 
SOLD IN 2 DAYS
Waterstone 1 bedroom luxury condo
$219,900
202-6440 194 Street
202 6440 194 St.
Cloverdale, BC
Bedrooms: 1
Bathrooms: 1
Condo Size: 593
Parking Stalls: 1
Click here for more info
 
Just sold in the Grove
$319,900
Top floor corner unit
B409-8929 202 St.
B409-8929 202 St.
Langley BC
Bedrooms: 2
Bathrooms: 2
Condo Size: 898 SqFt
Parking Stalls: 2
Click her for more info
 
Elizabeth Penner
Call today and find out what your home is worth
Liz Penner​​​​​​​
liz@lizpenner.com
 
Greyfriars Realty
604-534-5070
250-2411 160 St.
Surrey BC V3S 0C8