Tuesday February 17, 2026 | VICTORIA, BC
by Mary P Brooke | Island Social Trends
School tax rates will be increasing on residential properties valued over $3 million.
This was announced today during the BC Budget 2026 presentation by the Finance Minister.
The change will become effective for the 2027 tax year and will also apply in subsequent taxation years. See: additional school tax rates .
How it works:
- The tax rate that applies to the residential portion assessed between $3 million and $4 million is increased from 0.2 percent to 0.3 percent
- The tax rate that applies to the portion of residential assessed value that exceeds $4 million is increased from 0.4 percent to 0.6 percent.
School districts:
School property taxes are used by the BC Provincial government to fund school districts that are responsible to deliver public education to families with children in Grades K to 12, as well as providing early-learning child care on site within schools.
Over the past few years the demands on school district boards to work effectively with the delivery of education services has been challenging, given the rising cost of nearly everything.
The Ministry of Education and Child Care notes that nearly 90% of school district expenditure is on personnel (salaries of teachers and other staff including specialized professionals like counsellors).
===== RELATED:
- Finance Minister: serious disciplined BC Budget 2026 will protect core services (February 15, 2026)
- NEWS SECTIONS: BUDGET 2026 | 43rd PARLIAMENT Of BC | SCHOOL DISTRICTS