Monday, April 23, 2012

City of Langley Shifting Property Tax to Business

Tonight the City of Langley Council will be adopting the 2012 tax rate. One of the changes is "to shift the tax burden from the residential class to the business class so that the business class pays a higher proportion of the property taxation to move towards the average ratio between classes identified in Metro Vancouver." As a property owner in the City of Langley, you can expect to see the following changes on your tax bill on average.

Single Family Residential 1.48% or $25
Strata Dwelling -0.77% or -$6
Light Industrial Property 3.96% or $606
Business Property 3.75% or $ 493

As a "strata dweller" this will be the first year since I've lived in Langley that I may see a decrease in my property tax bill. It is not very often when that happens.

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