The 2023 General Property Tax Rates and Exemptions Regulation establishes the framework for property tax rates and exemptions across Yukon. This regulation sets out the methodology for calculating property taxes based on assessed property values and includes specific provisions for various property types and geographic regions.

For the 2023 taxation year, property taxes are imposed at rates specified in an attached schedule, expressed as percentages of the assessed value of taxable properties. The regulation categorizes properties into several classifications, each with distinct tax implications:

• Residential Properties: This category includes Residential/Commercial (RCM), Recreational Cottage (CHA), Residential Mobile Home (MAT), and Multi Residential/Multi Rural (FAM) properties. Each classification has unique characteristics that influence the taxation approach.
• Agricultural Properties: This encompasses Agricultural (AGR), Grazing (GRZ), Agricultural Holdings (AG), and Agricultural Limited (AL) properties. Tax rates for these properties are tailored to reflect their use for farming or grazing.
• Non-Residential Properties: Including Commercial, Central (CMS), Commercial Highway or Tourist (CMT), among others, this category covers a range of commercial and industrial uses with distinct tax rates compared to residential and agricultural properties.

The regulation also specifies tax exemptions for various regions:

• • • Whitehorse Periphery: Residential properties in this area benefit from a 23.75% tax exemption, non-residential properties receive a 16% exemption, and agricultural properties are granted a 29% exemption.
    • Teslin Area: In this region, residential properties are exempt from 17.5% of their tax liability, non-residential properties have a 7.5% exemption, and agricultural properties are afforded a 19% exemption.
      

Regional tax rates vary across Yukon, with residential properties generally taxed at 1.00% in areas such as Beaver Creek, Carcross, and Ross River. Other regions, including Burwash Landing, Destruction Bay, and Old Crow, have lower residential tax rates ranging from 0.80% to 0.89%. Non-residential tax rates range from 0.67% to 0.87%, while agricultural properties are taxed between 0.52% and 0.72%.

The 2023 General Property Tax Rates and Exemptions Regulation aims at providing a detailed and structured approach to property taxation in Yukon, with specific exemptions designed to mitigate the tax burden for residential, non-residential, and agricultural properties across different regions.

Yukon (OIC 2023/56) May 15, 2023