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)

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

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 submitted by the end of May and can be completed online 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 0.5-per-cent tax.

READ MORE: Seniors with unrentable homes in Belcarra, B.C., face huge speculation tax bills

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.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Weekly Mountain Minute

This week’s top news stories:… Continue reading

De Groot family still waiting for inquest after 2014 Slocan shooting

Lawyer for Peter De Groot’s family say many questions remain unanswered

Teepee raising ceremony invites Invermere Chief to Metis Nation Columbia River Society

Some people might notice a new teepee standing tall outside of the… Continue reading

Four-year-old girl one of two killed in highway crash near Creston

The 26-year-old driver of a Saturn SUV was also killed

Golden Fire Rescue makes trip to Oliver to protect homes from wildfire

Four members of Golden Fire Rescue went on a special mission last… Continue reading

Fashion Fridays: How to dress and feel powerful

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Kraft Heinz brand baby food recalled in B.C. due to possibility of insects

The Canadian Food Inspection Agency says the product should not be consumed

First Nations women finally to be treated equally under Indian Act: Bennett

Canadian Feminist Alliance for International Action thanked the feds

Helicopter-riding dog Mr. Bentley now featured on cans of new B.C.-made beer

Partial proceeds from every pack go to Children’s Wish

‘Easy Rider’ star Peter Fonda dies at 79

Actor and writer was nominated for an Oscar for co-writing the 1969 psychedelic road trip movie

Bob Lenarduzzi out as Vancouver Whitecaps president

MLS team is at the bottom of the Western Conference standings

B.C. daycare operator denies negligence in death of ‘Baby Mac’

Infant died in early 2017 after biting an electrical cord, according to a lawsuit filed by his mom

BC SPCA reopens animal cruelty investigation at Abbotsford pig farm

Additional alleged footage released from Excelsior Hog Farm sparks new investigation

Donor upset no one noticed B.C. school’s sculpture had been missing for a year

Agassiz’s Fraser River Lodge owner baffled how theft went undetected

Most Read