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

Wayne’s World: We’re in a climate emergency, let’s act like it

Wayne Stetski MP, Kootenay-Columbia One of the issues I hear about most… Continue reading

Crazy Senoritas coming to Revelstoke

They will be performing at the golf course on Aug. 23

Revelstoke Museum raising funds to create Washed Away film

The film will be about the displacement of people from the damming of the Columbia River

Revelstokian calling on the city to clean up the Columbia River

The letter writer submitted several photos of the mess along the river bank at Centennial Park

VIDEO: Missing teens named as suspects in three northern B.C. killings

Kam McLeod and Bryer Schmegelsky are wanted in the deaths of Lucas Fowler, Chynna Deese, unknown man

Horgan hints at Daylight Saving Time changes after record survey response

More than 223,000 online surveys were submitted in the government’s public consultation

Two lightning caused fires in North Okanagan

The fires sparked Monday evening

Jurors talk about trial of U.S. man convicted in 1987 murders of B.C. couple

Three jurors offer a window into deliberations during the trial

Tubing world record broken on Vancouver Island

But record for length of tubes linked together still has to be confirmed

UPDATE: Culprit leaves clue for Okanagan RCMP in rainbow crosswalk vandalism

Crosswalk was defaced on the weekend, but RCMP may have some evidence

The Beaverton’s sharp satire thrives in polarized political climate

Canadian TV series’ third season to air Tuesday on CTV after “The Amazing Race Canada”

Kelowna house fire deemed not suspicious

Fire crews doused overnight blaze at Barnaby Road home

VIDEO: Young couple found dead in northern B.C. had been shot, police say

Chynna Noelle Deese of the U.S. and Lucas Robertson Fowler of Australia were found along Highway 97

Most Read