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

Ladies and Gentlemen, the ninth annual Trash Fashion Show

Mt. Baker Secondary School art students turn clutter in haut couture

MS Walk set for Sunday at the College of the Rockies

On Sunday May 26, communities across BC will participate in the annual… Continue reading

School District 5 superintendent announces retirement

Lynn Hauptman, who has served as the top administrator since 2013, is calling it a career

Cranbrook Tritons prepare for international swim meet

Two local swimmers will compete against the best at the Mel Zajac Jr. International Swim Meet

Cranbrook Eagles victorious in Rock Creek

Three Eagle boxers won their matches at Rumble in Rock Creek

New airline regulations bring compensation for tarmac delays, over-bookings

Some of the new regulations will roll out in July, while others are expected for December.

A pain in the pump

I have just returned from a quick drive across the province to… Continue reading

A Christian Perspective on Homosexuality: Parts I and II

Rev. Yme Woensdregt A Christian Perspective on Homosexuality: Part I June is… Continue reading

The exoneration of Poundmaker

There occurred a small but significant moment in Canadian history Thursday. The… Continue reading

Five takeaways from the Court of Appeal ruling on B.C.’s pipeline law

It’s unclear how many tools are left in B.C.’s toolbox to fight the project

Kootenay man arrested and charged in 2015 murder

Nathaniel Jessup 32 of Creston has been charged with the second-degree murder of Katherine McAdam and offering an indignity to a body.

Scheer says it would take Conservatives five years to balance budget

Scheeraccused the Liberal government of spending $79.5 billion of previously unbudgeted funds

B.C. man, 30, arrested for driving his parents’ cars while impaired twice in one day

The Vancouver-area man was arrested after officers caught him driving impaired twice in one day

GALLERY: First responders in Fernie return baby owl to its nest

The baby owl’s inability to fly back to its nest prompted a rescue by first responders

Most Read