Surrey Property Tax Calculator 2024
In April 2023, Surrey’s city council voted to pass the 5-year budget and approved a 12.5% hike in property taxes. The hike is the highest approved increase among Metro Vancouver municipalities. The initially proposed budget proposed a 17.5% hike; however, the budget was revised to reduce the hike.
According to the city staff, an average homeowner in Surrey will see a tax increase of $280.
The City of Surrey is located south of the Fraser River in the Metro Vancouver Regional District and is home to over 568K residents. The population of Surrey increased by 9.7% from 2016 to 2021. Surrey real estate prices have remained unchanged from August 2022 to August 2023, with the benchmark price of a home in Surrey being $1.12M in August 2023. Surrey‘s real estate market is home to many luxurious mansions and bungalows, but there are also more affordable property types, such as apartments, condominiums, semi-detached houses, and detached houses located in Surrey. The average price of detached homes in Surrey in August 2023 was $1.73M, that of townhouses was $861K and of condominiums was $550K. Surrey property tax rates are the fifth lowest property tax rates in BC for municipalities with a population greater than 10K.
Surrey property tax is based on the assessed value of your home. Every year, the BC Assessment conducts an evaluation of properties all over British Columbia. This assessed value can differ significantly from the market value of your property.Your final property tax amount is calculated by multiplying the Surrey final property tax rate for the year by the BC Assessment value.
You can calculate your property tax using either your home's assessed value or your home's most recent market price. Just enter the price and type of your property, and we will give you an instant property tax estimate.
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2024 Tax rates for Cities Near Surrey
| City | Final Tax Rate |
|---|---|
| New Westminster | 0.408557 % |
| Port Coquitlam | 0.337280 % |
| Port Moody | 0.375831 % |
| Burnaby | 0.283470 % |
Surrey Property Taxes
If you own or lease property or mobile homes in BC, you will be subject to paying property tax annually. The tax, paid to the municipality with rates varying based on the municipality you are in, is responsible for funding services such as police and fire protection, garbage collection, schools, and hospitals.
At the beginning of the year, you will receive a property assessment notice informing you of the property value as of July 1st of last year. You will then receive a tax notice that calculates how much tax you owe based on the assessed value, and it will then be your responsibility to pay the amount to the municipal office before the deadline.
The amount of property tax and its rates are based on how much funding is needed to provide services for the year; for example, if your community decides to start a new service, the higher cost may be reflected in your taxes. The amount also depends on other factors such as property classification and location.
Generally, your tax will consist of a Municipal Tax as determined by your municipality and a School Tax determined by the number of residences and their values in your district.
| Residential Property Tax Rate for Surrey from 2011 to 2024 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2024 | 0.158733% | 0.098860% | 0.293626% |
| 2023 | 0.149858% | 0.095550% | 0.275718% |
| 2022 | 0.150005% | 0.099140% | 0.280324% |
| 2021 | 0.186834% | 0.119450% | 0.341716% |
| 2020 | 0.188708% | 0.122520% | 0.345662% |
| 2019 | 0.175681% | 0.113640% | 0.319493% |
| 2018 | 0.180601% | 0.116320% | 0.326382% |
| 2017 | 0.189447% | 0.125680% | 0.345553% |
| 2016 | 0.262620% | 0.161380% | 0.444468% |
| 2015 | 0.232556% | 0.173670% | 0.465972% |
| 2014 | 0.232534% | 0.178290% | 0.470524% |
| 2013 | 0.225731% | 0.177620% | 0.460163% |
| 2012 | 0.225181% | 0.178560% | 0.458354% |
| 2011 | 0.229331% | 0.183310% | 0.468713% |
Surrey Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Surrey's property tax department through the following methods:
| Phone number | 604-591-4011 |
|---|---|
| propertytaxesandutilities@surrey.ca |
Surrey Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Surrey's property tax department through the following methods:
| Phone number |
|---|
| 604-591-4011 |
| propertytaxesandutilities@surrey.ca |
| Surrey at a Glance | |
|---|---|
| Province | British Columbia |
| Settled Year | 1879 |
| Established Year | 1879 |
| Incorporated Year | 1993 |
| Population | 568,322 |
| City Area | 316.41 km 2 (122.17 sq mi) |
| Official Website | Surrey Official Website |
Property Taxes in B.C. for a $500K B.C. Assessed Value Home*
Assessed Value of a Property
Every year, your property will be assessed by BC Assessment to determine its value, classification, and any exemptions it may be applicable for. The aspects used for the assessment include location, size, shape, usage, and age. Each year, the value of your property may increase or decrease depending on factors such as changes to its classification, market fluctuations, and renovations. If there are issues with the assessment, you may contact BC Assessment or have an independent appeal to the Property Assessment Review Panel (PARP).
Homeowners may find that the assessed value of their property differs significantly from its market price. There is also no way to retrieve and compare the assessed value of other properties.
Property Taxes in B.C. for a $500K Fair Market Value Detached Home*
How We Calculate Your Property Tax
If you entered your home's Provinical Assessment value, we calculate your property tax by multiplying your Assessment value by Surrey's final property tax rate.
Property Tax of Other Cities in British Columbia
Disclaimer:
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.