Vancouver Empty Homes Tax Affected Areas:
The City of Vancouver
Declaration Deadline:
February 2nd 2024
The Empty Homes Tax is a Municipal Tax for Residents of The City of Vancouver. Vancouver homeowners are required to submit a declaration each year to determine if their property is subject to the Empty Homes Tax. Properties deemed or declared empty in the 2023 reference year will be subject to a tax of 3% of the property’s 2023 assessed taxable value. Speculation & Vacancy Tax
Affected Areas:
All homeowners
Declaration Deadline:
March 31st, 2024
The Speculation & Vacancy Tax is a Provincial Tax for most BC Residents. Affected homeowners are required to submit a declaration each year to determine if their property is subject to the Spec & Vac. Tax, and is based on how owners use residential properties most by the current housing shortage.
Underused Property Tax
Affected Areas:
This applies to all foreign national owners of housing in Canada
Declaration Deadline:
April 30th, 2024
The Underused Housing Tax is a Federal Tax mainly for foreign national homeowners. It is a 1% tax on the ownership of vacant or underused housing in Canada that took effect n January 1, 2022.
Keith Baker | kpbaker@shaw.ca | 604.723.5363
Jackie Zerbe | jacqueline@totalmortgage.ca | 604.724.6982