{
  "id": "business-tax-ratio",
  "category": "City finances",
  "title": "Business tax rate compared with the residential rate, City of Victoria",
  "geography": "City of Victoria (municipality)",
  "scope": "city",
  "levels": [
    "City council (tax rates)"
  ],
  "plain_question": "For each dollar of assessed value, how many times the residential rate do businesses pay in City tax?",
  "value": 3.4,
  "display_value": "3.40",
  "unit": "times the residential rate (municipal tax)",
  "period": "Tax year 2026",
  "period_start": "2026-01-01",
  "period_end": "2026-12-31",
  "comparison": {
    "previous_period": "Tax year 2025",
    "previous_value": 3.5,
    "change_percent": -2.8
  },
  "trend": "context",
  "trend_basis": "2026: Business and Other 12.6712 ÷ Residential 3.7229 = 3.40. 2025: 11.8167 ÷ 3.3749 = 3.50. 2021: 3.33.",
  "direction_good": "down",
  "right_direction": "Shown for context. How the tax is shared between businesses and homes is a council decision and a value judgement.",
  "since_text": "Municipal rates per $1,000 of assessment, 2026: residential $3.7229, business and other $12.6712.",
  "caveats": [
    "Calculated here: the City’s municipal tax rate for business divided by its rate for residential (dollars per $1,000 of assessment). 2021 to 2025 are from the Annual Report’s Property Tax Rates table (rows “Residential” and “Business and Other”). 2026 is from Schedule 1 of Tax Bylaw No. 26-030 (Total Municipal column, rows “Residential” and “Business”), which sets the same rates before the year is audited.",
    "Municipal rates only. School, regional and hospital rates are set by other bodies.",
    "A ratio does not show who pays more in total: that depends on the total assessed value in each class.",
    "The City’s Financial Plan policy (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0) aims to reduce the business to residential tax ratio to no more than 3.5 to 1 in 2025; 3.4 to 1 in 2026; 3.3 to 1 in 2027; 3.2 to 1 in 2028; 3.1 to 1 in 2029; 3.0 to 1 in 2030. The policy prints no formula for the ratio. The ratio calculated here from the City’s published rates was 3.50 in 2025 and 3.40 in 2026, the same as the caps for those years. The cap is drawn for each year shown."
  ],
  "charts": [
    {
      "title": "Business rate ÷ residential rate, municipal tax",
      "fmt": "dec1",
      "unit": "times",
      "lines": [
        {
          "name": "City of Victoria",
          "area": "city",
          "series": [
            {
              "period": "2021",
              "value": 3.33
            },
            {
              "period": "2022",
              "value": 3.65
            },
            {
              "period": "2023",
              "value": 3.8
            },
            {
              "period": "2024",
              "value": 3.68
            },
            {
              "period": "2025",
              "value": 3.5
            },
            {
              "period": "2026",
              "value": 3.4
            }
          ]
        }
      ],
      "refs": [
        {
          "key": "cap",
          "style": "target",
          "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
          "short": "City policy cap",
          "area": "City of Victoria",
          "source": "City of Victoria, Five Year Financial Plan Bylaw, 2026 (No. 26-040), Schedule 5 (adopted May 7, 2026)",
          "url": "https://www.victoria.ca/media/4520",
          "steps": [
            {
              "start": "2025-01-01",
              "end": "2025-12-31",
              "value": 3.5
            },
            {
              "start": "2026-01-01",
              "end": "2026-12-31",
              "value": 3.4
            },
            {
              "start": "2027-01-01",
              "end": "2027-12-31",
              "value": 3.3
            },
            {
              "start": "2028-01-01",
              "end": "2028-12-31",
              "value": 3.2
            },
            {
              "start": "2029-01-01",
              "end": "2029-12-31",
              "value": 3.1
            },
            {
              "start": "2030-01-01",
              "end": "2030-12-31",
              "value": 3.0
            }
          ],
          "end": "City cap"
        }
      ]
    },
    {
      "title": "Municipal tax rates, dollars per $1,000 of assessed value",
      "fmt": "dec2",
      "unit": "per $1,000",
      "lines": [
        {
          "name": "Residential",
          "area": "city",
          "series": [
            {
              "period": "2021",
              "value": 3.2209
            },
            {
              "period": "2022",
              "value": 2.8884
            },
            {
              "period": "2023",
              "value": 2.8109
            },
            {
              "period": "2024",
              "value": 3.0569
            },
            {
              "period": "2025",
              "value": 3.3749
            },
            {
              "period": "2026",
              "value": 3.7229
            }
          ]
        },
        {
          "name": "Business and other",
          "area": "city",
          "series": [
            {
              "period": "2021",
              "value": 10.7096
            },
            {
              "period": "2022",
              "value": 10.5323
            },
            {
              "period": "2023",
              "value": 10.6951
            },
            {
              "period": "2024",
              "value": 11.2419
            },
            {
              "period": "2025",
              "value": 11.8167
            },
            {
              "period": "2026",
              "value": 12.6712
            }
          ]
        }
      ]
    }
  ],
  "series": [
    {
      "period": "2021",
      "value": 3.33
    },
    {
      "period": "2022",
      "value": 3.65
    },
    {
      "period": "2023",
      "value": 3.8
    },
    {
      "period": "2024",
      "value": 3.68
    },
    {
      "period": "2025",
      "value": 3.5
    },
    {
      "period": "2026",
      "value": 3.4
    }
  ],
  "derived_figures": [
    {
      "what": "Ratio 2021",
      "formula": "Business and Other rate ÷ Residential rate",
      "inputs": {
        "Business and Other": 10.7096,
        "Residential": 3.2209
      },
      "result": 3.33
    },
    {
      "what": "Ratio 2022",
      "formula": "Business and Other rate ÷ Residential rate",
      "inputs": {
        "Business and Other": 10.5323,
        "Residential": 2.8884
      },
      "result": 3.65
    },
    {
      "what": "Ratio 2023",
      "formula": "Business and Other rate ÷ Residential rate",
      "inputs": {
        "Business and Other": 10.6951,
        "Residential": 2.8109
      },
      "result": 3.8
    },
    {
      "what": "Ratio 2024",
      "formula": "Business and Other rate ÷ Residential rate",
      "inputs": {
        "Business and Other": 11.2419,
        "Residential": 3.0569
      },
      "result": 3.68
    },
    {
      "what": "Ratio 2025",
      "formula": "Business and Other rate ÷ Residential rate",
      "inputs": {
        "Business and Other": 11.8167,
        "Residential": 3.3749
      },
      "result": 3.5
    },
    {
      "what": "Ratio 2026",
      "formula": "Business and Other rate ÷ Residential rate",
      "inputs": {
        "Business and Other": 12.6712,
        "Residential": 3.7229
      },
      "result": 3.4
    }
  ],
  "refresh_frequency": "Yearly (tax bylaw adopted each spring; audited report mid-year)",
  "retrieved_at": "2026-11-12T19:46:38Z",
  "source": {
    "name": "City of Victoria, Annual Report 2025 (Property Tax Rates 2021 - 2025) and Tax Bylaw No. 26-030, Schedule 1 (2026)",
    "url": "https://www.victoria.ca/media/file/annual-report-2025",
    "dataset_url": "https://www.victoria.ca/media/file/annual-report-2025",
    "download_url": "https://www.victoria.ca/media/file/annual-report-2025",
    "locator": "2021 to 2025: Annual Report 2025, Statistics section, Property Tax Rates, MUNICIPAL rows Residential and Business and Other. 2026: Tax Bylaw No. 26-030, Schedule 1, Total Municipal column, rows Residential and Business",
    "publisher_page": "https://www.victoria.ca/city-government/corporate-strategic-plan/annual-report",
    "also": [
      {
        "name": "Tax Bylaw No. 26-030, Schedule 1 (tax rates 2026)",
        "url": "https://www.victoria.ca/media/file/tax-bylaw-2026"
      },
      {
        "name": "Five Year Financial Plan Bylaw, 2026, Schedules 1 to 5",
        "url": "https://www.victoria.ca/media/4520"
      }
    ]
  },
  "licence": {
    "name": "Public data, not under an open licence. Used with attribution.",
    "url": "https://www.victoria.ca/legal-disclaimer",
    "open": false
  },
  "verified_text": [
    "MUNICIPAL ($ per 1000 assessment) Residential 3.2209 2.8884 2.8109 3.0569 3.3749",
    "Business and Other 10.7096 10.5323 10.6951 11.2419 11.8167",
    "Residential General 31,490,813,084 2.1708 0.1739 1.3782 3.7229",
    "Business General 7,111,214,220 7.3884 0.5921 4.6907 12.6712",
    "Policy 2.0 To reduce the business to residential tax ratio to no more than: 3.5 to 1 in 2025 3.4 to 1 in 2026 3.3 to 1 in 2027 3.2 to 1 in 2028 3.1 to 1 in 2029 3.0 to 1 in 2030"
  ],
  "data_published": "2026-07-17",
  "attribution": "Source: City of Victoria, Annual Report 2025 (Property Tax Rates 2021 - 2026). Public document, used with attribution; not endorsed by the publisher.",
  "licence_type": "public",
  "source_tier": 1,
  "measure_kind": "context",
  "better_measure": null,
  "status_rule": {
    "rule": "One rule for every measure: a change smaller than 5% of the earlier value, or smaller than the agency's own margin of error, is “About the same”; no change is calculated across a marked break in a series; homelessness estimates, prices, staffing and comparison pages are shown for context without a label.",
    "reason": "How the tax is shared between businesses and homes is a council decision and a value judgement.",
    "threshold_percent": 5.0
  },
  "changes": {
    "year": {
      "period": "Tax year 2025",
      "value": 3.5,
      "text": "vs Tax year 2025: -2.8%"
    },
    "five_year": {
      "period": "2021",
      "years": 5,
      "value": 3.33,
      "comparable": true,
      "text": "vs 2021: +2.1%"
    }
  },
  "direction": {
    "type": "context",
    "rule": "Outcome measures read Better, Worse or About the same; published government targets read Ahead of, On or Behind target; value-judgement measures read Rising, Falling or Steady in a neutral colour. A change smaller than the agency's own margin of error, or otherwise smaller than 5% of the earlier value, is About the same (or Steady). No change is calculated across a marked break in a series.",
    "key": "steady",
    "label": "Steady",
    "arrow": "▼",
    "rel": -2.8,
    "delta": null,
    "vs": "Tax year 2025",
    "cur": "Tax year 2026",
    "why": " The change is 2.8% of the earlier value, below the 5% threshold.",
    "change": "2.8%",
    "one_year": "−2.8%",
    "five": {
      "period": "2021",
      "comparable": true,
      "rel": 2.1021021021020974,
      "text": "+2.1%",
      "years": 5
    }
  },
  "benchmark": {
    "rung": 1,
    "rung_name": "Adopted target",
    "as_of": "2026-11-12",
    "items": [
      {
        "kind": "target",
        "label": "Adopted target",
        "text": "Adopted target: Victoria City Council’s Financial Plan policy aims to reduce the business to residential tax ratio to no more than 3.5 to 1 in 2025, 3.4 in 2026, 3.3 in 2027, 3.2 in 2028, 3.1 in 2029 and 3.0 in 2030. The chart draws the cap that applies to each year shown. The policy prints no formula for the ratio. The ratio calculated here from the City’s published rates was 3.50 in 2025 and 3.40 in 2026, the same as the caps for those years.",
        "area": "City of Victoria",
        "source": {
          "title": "Five Year Financial Plan Bylaw, 2026 (No. 26-040), Schedule 5",
          "publisher": "City of Victoria",
          "date": "adopted May 7, 2026",
          "url": "https://www.victoria.ca/media/4520",
          "terms": "https://www.victoria.ca/legal-disclaimer",
          "refresh": "Yearly, with the City budget",
          "licence": "Public document, not under an open licence. Quoted with attribution.",
          "checked": "2026-11-12",
          "key": "fin_plan"
        },
        "documents_checked": null
      }
    ],
    "drawn": [
      "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)"
    ],
    "rule": "Highest rung found is shown; the site never sets a target. Methods, Targets."
  },
  "benchmarks": [
    {
      "rung": 1,
      "kind": "target",
      "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
      "short": "City cap",
      "unit": "to 1",
      "set_by": "COV",
      "instrument": "bylaw",
      "document": "fin_plan",
      "page": null,
      "area": "City of Victoria",
      "fit": "full",
      "same_area": true,
      "polarity": "cap",
      "chart": 0,
      "value": 3.5,
      "applies_from": "2025-01-01",
      "applies_to": "2025-12-31",
      "path": true,
      "document_url": "https://www.victoria.ca/media/4520",
      "applies_here": true,
      "same_measure": true
    },
    {
      "rung": 1,
      "kind": "target",
      "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
      "short": "City cap",
      "unit": "to 1",
      "set_by": "COV",
      "instrument": "bylaw",
      "document": "fin_plan",
      "page": null,
      "area": "City of Victoria",
      "fit": "full",
      "same_area": true,
      "polarity": "cap",
      "chart": 0,
      "value": 3.4,
      "applies_from": "2026-01-01",
      "applies_to": "2026-12-31",
      "path": true,
      "document_url": "https://www.victoria.ca/media/4520",
      "applies_here": true,
      "same_measure": true
    },
    {
      "rung": 1,
      "kind": "target",
      "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
      "short": "City cap",
      "unit": "to 1",
      "set_by": "COV",
      "instrument": "bylaw",
      "document": "fin_plan",
      "page": null,
      "area": "City of Victoria",
      "fit": "full",
      "same_area": true,
      "polarity": "cap",
      "chart": 0,
      "value": 3.3,
      "applies_from": "2027-01-01",
      "applies_to": "2027-12-31",
      "path": true,
      "document_url": "https://www.victoria.ca/media/4520",
      "applies_here": true,
      "same_measure": true
    },
    {
      "rung": 1,
      "kind": "target",
      "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
      "short": "City cap",
      "unit": "to 1",
      "set_by": "COV",
      "instrument": "bylaw",
      "document": "fin_plan",
      "page": null,
      "area": "City of Victoria",
      "fit": "full",
      "same_area": true,
      "polarity": "cap",
      "chart": 0,
      "value": 3.2,
      "applies_from": "2028-01-01",
      "applies_to": "2028-12-31",
      "path": true,
      "document_url": "https://www.victoria.ca/media/4520",
      "applies_here": true,
      "same_measure": true
    },
    {
      "rung": 1,
      "kind": "target",
      "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
      "short": "City cap",
      "unit": "to 1",
      "set_by": "COV",
      "instrument": "bylaw",
      "document": "fin_plan",
      "page": null,
      "area": "City of Victoria",
      "fit": "full",
      "same_area": true,
      "polarity": "cap",
      "chart": 0,
      "value": 3.1,
      "applies_from": "2029-01-01",
      "applies_to": "2029-12-31",
      "path": true,
      "document_url": "https://www.victoria.ca/media/4520",
      "applies_here": true,
      "same_measure": true
    },
    {
      "rung": 1,
      "kind": "target",
      "label": "City policy cap on the business to residential tax ratio (Five Year Financial Plan Bylaw, 2026, Schedule 5, Policy 2.0)",
      "short": "City cap",
      "unit": "to 1",
      "set_by": "COV",
      "instrument": "bylaw",
      "document": "fin_plan",
      "page": null,
      "area": "City of Victoria",
      "fit": "full",
      "same_area": true,
      "polarity": "cap",
      "chart": 0,
      "value": 3.0,
      "applies_from": "2030-01-01",
      "applies_to": "2030-12-31",
      "path": true,
      "document_url": "https://www.victoria.ca/media/4520",
      "applies_here": true,
      "same_measure": true
    }
  ],
  "highest_rung": 1,
  "target_status": {
    "method": "official_checkpoint",
    "label": "Target met",
    "key": "ahead",
    "value": 3.4,
    "target": 3.4,
    "calculated_here": false,
    "text": "3.4 to 1 against the yearly cap of 3.4 to 1 for this period. At or under the cap reads Target met; over it reads Missed, or Just over target when the gap is 0.5% of the target or less. The policy prints no formula for the ratio; the ratio calculated here equalled the cap in 2025 and in 2026.",
    "document": "fin_plan",
    "applies_from": "2026-01-01",
    "applies_to": "2026-12-31"
  },
  "decided_by": [
    {
      "body": "COV",
      "name": "City of Victoria Council",
      "decides": "Adopts the financial plan by bylaw each year, then sets property tax rates by bylaw before May 15.",
      "laws": [
        {
          "key": "cc165",
          "label": "Community Charter, s. 165",
          "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/03026_06#section165"
        },
        {
          "key": "cc197",
          "label": "Community Charter, s. 197",
          "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/03026_07#section197"
        }
      ],
      "last": {
        "text": "Five Year Financial Plan Bylaw, 2026 (No. 26-040) and 2026 tax rates adopted May 7, 2026",
        "label": "Five Year Financial Plan Bylaw, 2026 (No. 26-040) and 2026 tax rates adopted May 7, 2026",
        "url": "https://engage.victoria.ca/2026budget"
      },
      "next": {
        "text": "2027 financial plan, then tax rate bylaw before May 15, 2027",
        "label": "Community Charter, s. 197",
        "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/03026_07#section197"
      }
    }
  ],
  "main_decision_maker": "City of Victoria Council",
  "label_1y": {
    "key": "steady",
    "label": "Steady"
  },
  "label_long": {
    "key": "steady",
    "label": "Steady",
    "years": 5,
    "change": "+2.1%"
  },
  "target_line": {
    "form": 1,
    "text": "Target 3.40 · met",
    "target": 3.4,
    "gap": "met",
    "comparison": null,
    "applies_here": true,
    "note": null
  }
}