City of Vancouver's New Business Tax Relief

Vancouver

2023/03/23

Small and independent businesses in Vancouver may receive a lower property tax burden in 2023. The City Council approved the Development Potential Relief Program (DPRP) as a pilot project. The program provides a business property tax rate at 50% of the blended light industry/business tax rate. The DPRP is intended to benefit independently owned restaurants, and shops, as well as non-profit and arts/culture-based organizations. ~1.4K properties would benefit from the DPRP, with 5% to 55% of their assessed land value subject to the lower DPRP tax rate. Property owners have a tight timeline to notify their business tenants of the tax relief program in order to qualify.