What it costs to own a condo in North Vancouver
Rates checked 4 October 2026 · next review January 2027On top of the mortgage, a North Vancouver condo costs you property tax, strata fees, home insurance, electricity and, depending on the building, utilities. In the District of North Vancouver the 2026 residential rate is 3.28195 per $1,000 of assessed value, so a condo assessed at $800,000 pays about $2,626 before the Home Owner Grant. The strata fee is set by each building, and Form B tells you what it is.
Rates, grants and fees change every year. Everything below is subject to change. Confirm property tax with the City or the District, and strata fees with the strata, for the exact unit.
| City of North Vancouver | 604-985-7761 · info@cnv.org · 141 West 14th Street |
| District of North Vancouver | 604-990-2311 · infoweb@dnv.org · 355 West Queens Road |
Property tax, 2026
| City of North Vancouver | District of North Vancouver | |
|---|---|---|
| Residential rate | The City’s 2026 example: a home assessed at $1,387,684 paid $4,790 in total | 3.28195 per $1,000, all levies included |
| On a condo assessed at $800,000 | Ask the City for the rate on your notice | $2,626 before the grant |
| Due | 2 July 2026 | 2 July 2026 |
| Late | 5% on any unpaid balance after 2 July, another 5% after 1 September | 5% on any unpaid balance after 2 July, another 5% after 1 September |
The total includes school tax, TransLink, Metro Vancouver and other levies set by other bodies, not just the municipal portion. The Home Owner Grant of $570 reduces the bill on your principal home; for 2026 it starts to fall on homes assessed over $2,075,000, and you pay at least $350 first.
The other costs, line by line
| Cost | How often | What sets it |
|---|---|---|
| Strata fee | Monthly | The strata’s budget, split by unit entitlement. At least 10% of the operating budget must go into the contingency reserve fund each year, since 1 November 2023 |
| Special levy | When voted | A 3/4 vote of owners. If one is approved before you buy, the seller pays the instalments due before completion and you pay the rest |
| Utilities, City | Yearly | The City’s multi-unit flat rate is $390 water and $592 sewer per unit, plus $98 garbage and $105 green can. Ask the strata whether these are in your fee |
| Utilities, District | Yearly | Set by District bylaw for multi-family buildings. Ask the strata and the District how your building is billed |
| Electricity | On each bill | BC Hydro: 23.44 cents a day, 11.87 cents a kWh for about the first 675 kWh a month, 14.08 cents above that |
| Home insurance | Yearly | Your own policy for contents, improvements and liability. Ask about cover for the strata deductible |
| Speculation and vacancy tax | Declare by 31 March | Most owners who live in their home are exempt, but every owner must declare. For 2026 the rates are 1% for Canadian citizens and permanent residents and 3% for others, if no exemption applies |
The strata deductible
If a loss starts in your unit, the strata can charge you its insurance deductible even if you were not at fault. The Province says these deductibles can range from $100,000 to $750,000 or more, and suggests owners insure for it. The strata’s insurance summary is part of Form B.
The mortgage
| Down payment | CMHC premium, on the loan |
|---|---|
| 5% to under 10% | 4.00% |
| 10% to under 15% | 3.10% |
| 15% to under 20% | 2.80% |
| 20% or more | No insurance needed |
Insured mortgages are for homes under $1,500,000. Lenders test you at the higher of your rate plus 2% or 5.25%. On a 30-year insured amortization, add 0.20% to the premium.
These are general figures, not financial advice. Confirm property tax with the City of North Vancouver on 604-985-7761 or the District of North Vancouver on 604-990-2311, the strata fee and deductible with the strata, and your mortgage with your lender.
- District of North Vancouver, 2026 tax rates. Checked 4 October 2026.
- District of North Vancouver, 2026 property tax newsletter. Checked 4 October 2026.
- City of North Vancouver, 2026 property tax information sheet. Checked 4 October 2026.
- City of North Vancouver, Fees and Charges Bylaw No. 9000. Checked 4 October 2026.
- Province of British Columbia, Home owner grant. Checked 4 October 2026.
- Province of British Columbia, Budgeting and strata fees. Checked 4 October 2026.
- Province of British Columbia, The contingency reserve fund. Checked 4 October 2026.
- Province of British Columbia, Special levies. Checked 4 October 2026.
- Province of British Columbia, Form B information certificate. Checked 4 October 2026.
- Province of British Columbia, Strata owner and tenant insurance. Checked 4 October 2026.
- BC Hydro, Tiered residential rate. Checked 4 October 2026.
- Province of British Columbia, Speculation and vacancy tax rates. Checked 4 October 2026.
- CMHC, Mortgage loan insurance premiums. Checked 4 October 2026.
- OSFI, Minimum qualifying rate. Checked 4 October 2026.