Posts Tagged ‘Victoria BC homes’

When you’re evaluating where to buy in the Greater Victoria, Saanich, or Westshore markets, understanding municipal property tax differences is an often-overlooked but highly relevant financial factor. Two homes with identical assessed values can lead to noticeably different tax bills year-to-year depending on the municipality — so knowing how rates stack up can influence both your upfront cost estimates and your long-term ownership costs. How Property Taxes Work in BC In British Columbia, municipal property taxes are calculated by multiplying the assessed value of your home by the municipal tax rate (mill rate). The assessment comes from BC Assessment and reflects market value as of July 1 prior to the tax year. Your total tax bill isn’t just the municipal share — it also includes levies collected for: Provincial school tax Capital Regional District (CRD) services Hospital district Transit Other local bodies Municipal budget decisions — such as infrastructure spending or service levels — directly influence the mill rate required to generate revenue. If assessments rise faster than the municipal budget, mill rates can stay stable or even decrease; if budgets grow faster than total assessed value, mill rates must increase. A municipality’s tax strategy often reflects local priorities and spending choices. Greater Victoria Municipal Property Tax Rates: A Snapshot Not all municipalities in Greater Victoria tax at the same rate. Based on available comparative data: Tax Rate Rankings (2022–2024 era) Lower tax rate municipalities: North Saanich generally sits near the lower end of regional property tax rates. View Royal often has lower mill rates compared with urban centres. Mid-range: Colwood and Langford in the Westshore tend to have moderate local municipal tax rates, but totals depend on other levies and assessment levels. Higher tax rate municipalities: Victoria and Central Saanich have among the higher municipal property tax rates within the region. Saanich typically shows a comparatively high effective tax burden. Differences matter: in a sample compiled by a brokerage, a $1 million home in Victoria would yield roughly $174 more in taxes than the same value home in Saanich, and a home in Colwood would pay about $645 more than in View Royal — purely based on rate spreads. (Note: precise current rates change annually with budgets and assessments. Always check municipal tax rate bylaws or use online tax calculators for exact figures for a given year.) Recent Trends: Rate Increases & Budget Pressures Municipalities across Greater Victoria have grappled with tax increases over recent years, driven by rising costs for core services, infrastructure renewals, and public safety: Saanich approved property tax increases near 8% in 2025, adding hundreds of dollars to the average homeowner bill. Langford has proposed significant tax hikes in multi-year financial plans to support rapid growth and expanding service demand. Regional increases by the Capital Regional District (CRD) also factor into total bills, with projected increases varying across municipalities depending on the services used (e.g., 4.1% for Victoria vs 7.7% for Langford for CRD requisitions in 2025). These upward pressures mean that even if a municipality historically had a lower tax rate, the year-to-year changes can shift relative burden across communities. Why These Differences Matter for Buyers 1. Annual Carrying Cost If you’re budgeting for homeownership, property taxes are a predictable recurring cost tied directly to your assessment and municipal priorities. A difference of a few hundred to a few thousand dollars annually can impact: Mortgage affordability Monthly cash flow Long-term cost projections for investment or retirement planning 2. Comparing Similar Homes Across Municipalities Two homes with equal market value — one in Saanich and one in Langford or Colwood — could result in: Different quarterly tax bills Different services received for that tax dollar (e.g., recreation, policing, parks) This can be a tiebreaker for buyers evaluating multiple locations in the region. 3. Growth and Future Tax Outlook Municipalities at different stages of development (e.g., fast-growing Langford vs more established Saanich or Victoria) may adopt differing strategies on whether to keep taxes low for growth incentives or invest in services and infrastructure. Howard P., 5-Star Review, via Google “Cal and Scott Faber are authentic and trustworthy and give it to you straight up. They take the time and the attention to learn about your needs and then find the home that fits them. Our experience with Cal and Scott Faber was exceptional. They didn't just provide great service, they demonstrated a genuine concern for our best interests, making us feel truly valued. They will do their best to find the home that fits your lifestyle and needs. I heartily recommend Cal and Scott.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

When sellers ask which renovations will boost their home’s value, they often expect expensive upgrades like full kitchen remodels or high-end flooring. The truth is simpler. As experienced realtors, we see buyers respond most to updates that reduce future work, improve functionality, and create a clean, move-in-ready feel. Fresh paint, modern fixtures, updated hardware, and tidy landscaping often do more for resale than costly design experiments. Kitchen and Bathroom Upgrades Kitchen and bathroom updates can add value, but full renovations rarely guarantee a dollar-for-dollar return. Buyers notice modern surfaces like new countertops, refreshed cabinets, updated faucets, and newer appliances. Small changes can refresh a space without a full remodel and make the home feel move-in ready. Flooring Matters More Than Luxury Consistency matters more than luxury. Homes with multiple flooring types feel disjointed. Installing a single, mid-range floor or replacing worn carpet can modernize a home instantly and create flow. Buyers want to see a home that won’t require immediate work. Avoid Highly Personal Upgrades Expensive, niche renovations often miss the mark. Built-in wine cellars, specialty media rooms, or custom outdoor spaces may appeal to few buyers. Unless you plan to stay long-term, these projects are better as lifestyle upgrades rather than investments. Maintenance Protects Value Repairs like new roofs, windows, plumbing, or heat pumps don’t add emotional value but prevent price reductions or failed negotiations. Maintenance is about protecting value, not creating it. The Move-In Ready Advantage Buyers pay a premium for move-in ready homes. They want confidence, not imagined work. Focus on improvements they will notice immediately: fresh paint, updated lighting, new faucets, consistent flooring, and a tidy front yard. Every property is different. The smartest renovations make your home easier to fall in love with while protecting its value. Small, practical updates often deliver the best results.   Gerry Lenz, 5-Star Review, via Google “It was a true pleasure working with Cal. We could not have asked more from Cal in how he looked after us from showing to closing. He made the whole process as easy as possible for us, and it was obvious that he cares about his clients and looking after them. The communication from both Cal and Scott was clear, fast and professional. We would absolutely recommend the Faber Real Estate Group!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons “Building Lasting Relationships, One Home at a Time.”

Langford vs. Colwood: Which West Shore Community Should You Choose? Choosing where to live in Greater Victoria isn’t just about picking a location, it’s about understanding the long-term trajectory of that community, how it aligns with your lifestyle, and how your investment will perform over time. This choice becomes especially interesting in the West Shore, where Langford and Colwood sit side by side but offer very different opportunities. As a team that studies this market daily and advises clients at every stage of their real estate journey, we can tell you this: There is no one-size-fits-all answer, but there is a smart answer for you. Langford: Dynamic, Ambitious, and Rapidly Evolving If Greater Victoria had a “future skyline,” it would be Langford. This is the region’s fastest-growing area, and it’s not by accident. Langford’s city planning is bold, aggressive, and intentionally growth-focused. The result? An environment where development is encouraged, housing variety is immense, and amenities are expanding at lightning speed. What Langford Offers: A huge variety of housing: condos, townhomes, duplexes, modern single-family homes, and estate-style living on Bear Mountain. Newer infrastructure: schools, parks, sports facilities, and commercial hubs built with today’s families in mind. A younger demographic that brings energy, innovation, and demand for modern conveniences. Ongoing investment potential as density increases and demand continues year after year. Langford is ideal for people who want to be at the center of growth and buyers who understand that where a city is going matters more than where it has been. Colwood: Scenic, Established, and Quietly Prestigious Colwood, on the other hand, offers a completely different tone. It’s more mature, more settled, and more focused on preserving quality of life than pushing rapid development. With beaches, forested neighbourhoods, and iconic landmarks like Hatley Castle, Colwood has a character that feels both timeless and grounded. Why Colwood Appeals: Stable, high homeownership: neighbourhoods where people put down roots. Spacious suburban living with larger lots and quieter streets. A strong family-friendly identity, ideal for long-term planning. Beautiful natural environments, including trails, waterfront access, and green space. Colwood is not trying to be the next big city, it’s trying to be an exceptional place to live. For many buyers, that’s exactly what they want. The Commute Reality Let’s be honest: if you’re commuting downtown daily, the “Colwood Crawl” is real. Langford and Colwood both feel the impact, but Langford’s infrastructure investments and more central positioning within the West Shore give it a slight edge for mobility and access. If you work from home or don’t commute often, both cities are great options. If daily commuting is part of your life, the slight differences may matter. Lifestyle Comparison: Which City Fits Your Personality? Think of it like this: Choose Langford if you want: Modern amenities Rapid growth and rising long-term value A mix of housing types A vibrant, youthful energy Walkable urban-style pockets blended with nature Choose Colwood if you want: Peaceful, established neighbourhoods Scenic beauty front and center More space and privacy Stability and long-term community A slower, more relaxed pace Investment Outlook From an investment perspective, this is where expertise truly matters. Langford offers strong appreciation potential due to ongoing development, increasing density, and continuous buyer demand. Colwood offers long-term stability, strong community appeal, and the kind of neighbourhood consistency that supports sustained property value. If you’re thinking like an investor, Langford is the growth play.If you’re thinking like a long-term resident, Colwood is the lifestyle play. Both are smart, but the right one depends on your goals. The Best Choice Is the One That Matches Your Future Moving isn’t just a financial decision, it’s a lifestyle decision. The smartest choice happens when you understand not only what a community is today, but where it’s going tomorrow. That’s where we come in. If you’re deciding between Langford and Colwood, we can help you read the trends, understand the neighbourhoods, and choose the location that positions you for the life and investment you want. When you’re ready, we’ll show you exactly where your next smart move should be. Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood & Zachary Parsons "Building Lasting Relationships, One Home at a Time."