Resource Library | Property Tax Notice Explained -

Property Tax Notice Explained

1. Owner’s Name and Address - All owners’ names appear. If there is more than one owner, then each name is listed. Where a single notice was mailed in the past, now each owner receives a copy.

2. Folio Number – A unique property identification number that belongs to the property and not the owner.

3. Access - A code used to epost™ tax payments.

4. Property Value – Class - BC Assessment’s classification of property, e.g. residential, business, farm.

5. Assessed - 2008-2007-2006 - BC Assessment’s assessed values of land, buildings and total for the last three years.

6. Averaged - 2008 Land - Three-year average of the assessed land value.

7. General – School - GVTA (TransLink) – Taxable values that the tax rates are applied against for each taxing authority.

8. PID - Parcel identifier used to cross reference to Land Title and BC Assessment.

9. School – Residential - Funds local schools minus the Home Owner Grant.

10. Net School Taxes - Total school taxes after the Home Owner Grant is deducted.

11. BC Assessment - Funds BC Assessment operations.

12. Municipal Finance Authority - Funds the agency that provides capital financing and other financial services to local governments.

13. Regional Districts - Funds shared operations and services such as sewer and water.

14. Transportation Authority - Funds TransLink and other regional transportation (GVTA).

15. Net Other Taxing Authorities - Total owing to other taxing authorities.

16. City of Vancouver General Levy - The ‘municipal tax’.

17. Net City Taxes – Municipal tax less the unused Home Owner Grant.

18. Total 2008 Taxes – Total minus pre-payments.

19. Total Outstanding Taxes - What you owe.
Column A - No Home Owner Grant;
Column B – Basic Grant;
Column C - AdditionalGrant.