If you’re a home owner in Metro Vancouver, Abbotsford, Mission, Chilliwack, the Capital Regional District, Kelowna, Nanaimo or -- new last year, North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish, watch you’re not inadvertently charged the annual provincial Speculation and Vacancy Tax.
You — and ALL persons on title — each need to complete an online form exempting yourselves from the tax. Failure to do so by March 31, 2023 will automatically trigger a tax charge, which could amount to thousands of dollars added to your annual property tax bill.
All owners on title should have each received mailed instructions. Find out more information on this BC government web page: https://bit.ly/39N6IU3
Note that this tax is separate from the City of Vancouver’s Empty Homes Tax. Due date for that declaration was February 2, 2024. See City website for more information https://bit.ly/2NdpPil