Can someone explain what is the Advance tax for Vancouver home owners?
I own a home in Vancouver that I live in since 2024. It is my principal residence and every year I make sure to declare my home owner's status for BC and as well as submit my empty home/vacancy declaration for the city. However, I am looking at my 2026 property tax notice and there is a penalty of $49.50 and I can't figure out what it is. I pay my taxes on time every year. When I log into my Vancouver.ca account, I see that there is an "Advance tax" added each year, on top of the regular property tax for which I get credited with my home owners grant.
I am guessing the penalty might be from missing the deadline for the "advance tax notice". But my bigger question is do we pay 2 property taxes in Vancouver? I previously lived in another metro Vancouver area and I do not recall having to pay 2 taxes. The other odd thing is the Advance tax was issued in Nov in 2025 but in Jan in 2026. Why would the city expect us to pay these 2 taxes so close in time?