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The annual property tax is usually a percentage of the taxable assessed value of the property. The taxable assessed value is commonly determined by the assessment service provider of the municipality. The annual property tax rate for any province contains at least two elements: the municipal rate and the education rate. The combination of municipal and education tax portions along with any base taxes or other special taxes determines the full amount of the tax.
* In [[Ontario]], property tax<ref>{{cite web |title=Property Tax |url=https://www.ontario.ca/page/property-tax |website=Ontario.ca |publisher=Ministry of Municipal Affairs and Housing |access-date=6 July 2020}}</ref> was first introduced in 1849 with the Municipal Act (or Baldwin Act) as the act constituted a municipal structure with cities, towns, and villages along with the creation of property tax that municipalities must collect that would also support schools. The tax is calculated by multiplying the current year property-value assessed by the Municipal Property Assessment Corporation (MPAC) with the total tax rate. A study from 2019<ref>{{Cite web|url=https://www.thestar.com/news/gta/2019/08/02/toronto-has-the-lowest-property-tax-rate-among-35-major-ontario-cities-a-new-study-says.html|title=Toronto has the lowest property tax rate among 35 major Ontario cities, a new study says|date=2 August 2019|website=Toronto Star}}</ref>
* In [[British Columbia]],<ref>{{cite web |title=Property Taxes |url=https://www2.gov.bc.ca/gov/content/taxes/property-taxes |website=gov.bc.ca |publisher=Government of British Columbia |access-date=6 July 2020}}</ref> the BC Assessment conducts an evaluation of properties all over British Columbia and submits assessed values for each of them yearly. BC Assessment maintains real property assessments in compliance with the Assessment Act which requires that properties be assessed as of 1 July each year. The final property tax amount is calculated by multiplying the municipal final property tax rate for the year by the BC Assessment value. [[Vancouver]] has the lowest property tax in Canada as a percentage of assessed value<ref>{{cite web |last1=Hemingway |first1=Alex |title=Vancouver has Canada's lowest property tax rate – and a housing crisis. Something has to give |url=https://www.thestar.com/opinion/2019/12/03/vancouver-has-canadas-lowest-property-tax-rate-and-a-housing-crisis-something-has-to-give.html |website=The Star Vancouver |date=3 December 2019 |publisher=Toronto Star Newspapers Ltd. |access-date=6 July 2020}}</ref> because while property values are extremely high, the city's budget has stayed relatively constant.
* In [[Alberta]], property taxes<ref>{{cite web |title=Property Tax |url=https://www.alberta.ca/property-tax.aspx |website=Alberta.ca |publisher=Government of Alberta |access-date=6 July 2020}}</ref> have existed since 1905, when Alberta became a Province; up until 1995, all properties and land except for farmland including industrial and residential properties were assessed at market value but the adoption of the Municipal Government Act in 1995 brought along many changes to property assessments. Properties in Alberta are assessed currently every year by municipalities according to guidelines by the Ministry of Municipal Affairs and the Alberta Assessment and Property Tax Policy Unit. Property taxes in Alberta are primarily made up of two components: a municipal tax and a provincial education tax. The specific property tax rate for a certain year depends on the budget of the municipality and its total assessment base, and Education property tax rates are also set by municipalities.
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