2026 - 2030 Surrey Financial Plan

TAXES, UTILITIES AND ASSESSMENTS

TAXES The City's Property & Payment Services division is responsible for issuing annual property tax notices based on tax rates approved by Council and property assessments provided by BC Assessment. BC Assessment determines property values in accordance with provincial legislation and established property classifications. These tax rates are then applied to each property’s assessed value to calculate the annual property tax levy. The City also collects taxes on behalf of other authorities, including the Metro Vancouver Regional District, the Municipal Finance Authority, BC Assessment, the BC Ministry of Finance ("School Tax"), and TransLink. Each authority sets its own tax rates or provides the total amount to be collected, and the City applies the corresponding rates to the property’s assessed value to calculate the annual property tax levy for these other authorities. The City’s share of property taxes supports essential services and community investments, including policing, fire protection, public safety, transportation infrastructure, parks, recreation facilities, and arts and culture programs. For 2025, including other authorities, the total tax rates per $1,000 of assessed value are: • Residential $ 3.10828 • Business $ 8.64975 • Light Industrial $ 6.92547 Under British Columbia legislation, municipalities are required to adopt their annual property tax rates by bylaw no later than May 15 th of each year. The City’s 2026 property tax rates are anticipated to be approved by Council in late April or early May 2026. Property taxes are due on July 2 nd each year (or the next business day if it falls on a weekend or statutory holiday). Late payments incur a 5% penalty after July 2 nd and an additional 5% after September 2 nd .

Property & Payment Services City of Surrey

13450 104th Avenue Surrey, BC V3T 1V8 604-591-4181 https://www.surrey.ca/services-payments/ property-taxes

Residential property construction

City of Surrey | 2026—2030 Financial Plan | Community Profile

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