Burnaby Property Tax 2026: What Every Homeowner and Buyer Should Know

Property tax is one of the least-discussed ongoing costs of Burnaby homeownership — but one of the most predictable. Most buyers ask about mortgage rates and strata fees; almost nobody asks what the annual property tax bill will be until after they have moved in. By then it is too late to factor it into the purchase price, the monthly budget, or the qualification conversation with your broker.

Understanding your property tax bill means understanding two separate things: BC Assessment determines your assessed value, and the City of Burnaby sets the mill rate. Multiply the two together and you get your bill — plus a handful of provincial and regional levies stacked on top. The January 2026 BC Assessment notices showed most Lower Mainland properties with assessed values declining 0–10% from 2025, reflecting July 1, 2025 market conditions per BCREA data. That is mostly good news for owners, and it is worth understanding why.

How Burnaby Property Tax is Calculated

The calculation is straightforward once you understand the two-step process. Here is exactly how your annual bill is produced:

1. 01.BC Assessment values your property as of July 1 of the prior year. Your January 2026 notice therefore reflects market conditions on July 1, 2025 — not what your home would sell for today.
2. 02.The City of Burnaby sets its annual mill rate each spring when it finalises the municipal budget. For 2026, the City approved a combined levy increase of approximately 4.8% over 2025.
3. 03.Your tax is calculated as: (Assessed Value ÷ 1,000) × Mill Rate. The 2026 Burnaby residential mill rate is 0.2978% (or approximately 2.978 per $1,000 assessed), producing ~$4,020/year on a $1,350,000 assessed home when all levies are included. Source: catax.tools / City of Burnaby 2026 budget. Before provincial levies, the City-only portion is lower; provincial levies — school tax, TransLink, Metro Vancouver, BC Assessment authority, and hospital district — are stacked on top and included in the combined figure above.
4. 04.Provincial and regional levies are added on top of the City amount: TransLink, Metro Vancouver, school tax, hospital district, and the BC Assessment authority each apply their own rates to your assessed value. These levies are set by their respective bodies independently of the City.

2026 Property Tax Estimates by Property Type

The following table shows approximate annual property tax for three common Burnaby property types. These are illustrative estimates based on approximate 2026 mill rates and typical assessed values — use them for planning conversations, not as a final number.

These are illustrative estimates only. Actual bills depend on your specific assessed value, the final 2026 mill rates, and applicable levies. Use BC Assessment (bcassessment.ca) for your actual assessed value and the City of Burnaby Tax Estimator for your specific bill.

What the 2026 BC Assessment Means

January 2026 notices showed most Lower Mainland homes with assessed values down 0–10% from 2025, per data published by the BC Real Estate Association. For owners, a lower assessed value means a lower tax bill — that is the straightforward good news in the 2026 notices.

The more important point is what assessed value is not: it is not market value. BC Assessment is a July 1 snapshot. If the market has moved materially since mid-2025 — up or down — your assessed value may not reflect what you could actually sell for today. That gap matters most for buyers.

Property Tax for Buyers: What to Factor In

When you are calculating what you can afford, property tax belongs in the same monthly budget line as mortgage principal and interest, strata fees, and home insurance. Most buyers I work with are diligent about strata fees but vague on property tax — which is a meaningful omission at Burnaby price points.

For buyers purchasing strata properties — condos or townhomes — remember that property tax is charged in addition to strata fees. Both are ongoing monthly obligations. Strata fees cover building maintenance and the contingency reserve; property tax goes to the City and Province regardless of strata status.

Non-resident owners and owners leaving properties unoccupied should also be aware of additional provincial levies: the Speculation and Vacancy Tax applies to certain Burnaby properties held by non-residents or left vacant. You can run those numbers using our speculation and vacancy tax calculator. For closing costs including Property Transfer Tax, see our closing costs calculator.

How to Appeal Your BC Assessment

If your January notice shows an assessed value that seems high relative to what comparable homes in your neighbourhood actually sold for, you have the right to challenge it. The process is more accessible than most people realise:

1. 01.Review your January notice carefully. Compare your assessed value to recent sales of similar properties (same type, similar size, same neighbourhood) that closed on or before July 1, 2025.
2. 02.Contact BC Assessment by January 31 for an informal review. This is a phone or written conversation with a BC Assessment appraiser — no formal hearing required at this stage.
3. 03.File a formal appeal by the deadline (typically mid-March) if the informal review does not resolve the discrepancy. The formal appeal goes to the Property Assessment Review Panel.
4. 04.Bring your evidence. The onus is on you to demonstrate that your property has been assessed above its July 1 market value. Bring 3–5 recent comparable sales as evidence — not listings, actual closed sales.
5. 05.Success rates are meaningful. Approximately 30% of informal review requests in BC result in a reduction. If your comparables genuinely support a lower value, it is worth the time to make the call.

Property Transfer Tax: A Quick Reminder

Property Transfer Tax (PTT) is a one-time provincial tax paid on purchase — it is not the same as annual property tax. PTT is calculated as a percentage of the purchase price and is due at completion, not annually. If you are a first-time buyer in BC, exemptions may reduce or eliminate your PTT on purchases under $860,000 — that is covered in full in the first-time buyer programs guide. You can also run PTT scenarios through our PTT calculator. Do not confuse PTT with the ongoing annual property tax discussed on this page — they are entirely separate obligations.

Key Takeaways

• 01.Burnaby property tax is calculated from two inputs: your BC Assessment assessed value (a July 1 snapshot) and the City of Burnaby's annual mill rate. You cannot change the mill rate; you can appeal the assessed value.
• 02.The 2026 BC Assessment notices showed most Lower Mainland properties down 0–10% from 2025 — which translates to modestly lower tax bills for most Burnaby homeowners this year.
• 03.Assessed value is not market value. Using your BC Assessment notice as a negotiating anchor in a purchase or sale is one of the most common — and costly — mistakes in Burnaby real estate.
• 04.Buyers should include property tax in their monthly carrying-cost calculation alongside mortgage P&I, strata fees, and insurance — not treat it as an afterthought.
• 05.If your January assessment seems high, the informal review process is low-effort and about 30% of BC requests result in a reduction — it is worth a phone call if the numbers support it.

This guide reflects property tax information as of June 2026. Mill rates, assessment methodologies, and levy amounts change annually. Verify current rates and your specific assessed value with BC Assessment (bcassessment.ca) and the City of Burnaby (burnaby.ca) before relying on any figures for a purchase, sale, or budgeting decision. This is general information, not tax or legal advice.