99% of B.C. homeowners exempt from speculation and vacancy tax

The B.C. government has received nearly all declaration forms to opt out of the 0.5-per-cent tax

Ashley Wadhwani-Smith May 17, 2019 11:10 AM

16895656_web1_180809-BPD-Speculation-tax-james-weaver — B.C. Finance Minister Carole James and B.C. Green Party leader Andrew Weaver announce rate reduction for Canadian citizens paying new property tax on homes empty six months of the year or more. (Black Press files)

Only one per cent of British Columbians will be paying a speculation and vacancy tax, according to the B.C. government.

Based on declarations received so far from homeowners, a majority of those who will be paying the tax are foreign owners, satellite families and Canadians living outside of B.C., the ministry of finance said in a news release Friday.

Exemption forms must be and can be completed or by phoning 1-833-554-2323.

The forms must be filled out by property owners who have homes or extra properties in regions where the taxes are in effect. Every homeowner must register to opt out of the .

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Those who are not exempt have until July 2 to pay their assessed amount.

The property tax applies to Metro Vancouver, Greater Victoria, and the municipalities of Nanaimo, Lantzville, Abbotsford, Chilliwack, Mission, Kelowna and West Kelowna.

ashley.wadhwani@bpdigital.ca
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About the Author: Ashley Wadhwani-Smith

I began my journalistic journey at Black Press Media as a community reporter in my hometown of Maple Ridge, B.C.

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