Thursday, July 19, 2018

Langley City’s role as a commercial centre means lower property taxes for residents

Langley City residents pay some of the lowest municipal property taxes on average in Metro Vancouver.

2017 Municipal Property Tax Levy Survey. Select table to enlarge. Source: City of Langley 2018 Financial Plan

One of the reasons for this is that the casino helps fund our capital improvement program. In 2018, revenue from the casino funded about a third of Langley City’s $16.8 million capital improvement program.

Another reason for Langley City’s low residential tax is because we have an extremely health business community. Langley City may be 10 square kilometres, but we are the commercial centre for our part of Metro Vancouver.

One way to put this into perspective is by looking at the total assessed value of property by class. These assessed values are used to calculate the amount of property tax that is paid. Many people refer to this as the tax base. This information is available from the BC Ministry of Municipal Affairs & Housing.

In Delta, 83% of their total property assessed value is from residential properties. In Surrey, 88% is from residential properties, 96% of property assessed value is residential in White Rock, and in the Township of Langley 85% of property assessed value is residential. In Langley City, that value is 73%.

Another way to look at this is by assessed value of commercial property per capita. As shown in the following chart, Langley City is a leader.

“Business/Other” Property Class Authenticated Roll General Taxable Values per Capita, by Municipality. Select chart to enlarge.

Langley City is a commercial centre. Because of this, we are also able to invest in our community while maintaining lower residential property taxes compared to the majority of municipalities in Metro Vancouver.

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