Only those owning property classed as residential and located in a designated taxable area in B.C. must complete a declaration for the speculation and vacancy tax.
The speculation and vacancy tax has helped return vacant housing back into the market to be used as homes in core urban centres that, at the time of implementation, were experiencing near-zero vacancy rates and housing prices that were disproportionately high compared to local incomes.
To bring the benefits of the speculation and vacancy tax to more areas of B.C., including moderating speculation, ensuring homes are used by people and revenue that supports affordable housing, the tax is expanded.
The following taxable areas are new for the 2023 tax year. Residential property owners in these new areas will declare for the first time in January 2024, once they have received their declaration letter:
Use our interactive location map to find out if your property is in a designated taxable area.
Note: This map is for your convenience only. Refer to the legislation for details.
You can also use the Local Government Boundaries map to find out if your property lies within the boundaries of a specific municipality.
Find out when to expect your declaration letter.
Learn about excluded areas and other exclusions from the tax when your property is in a taxable area.
Reserve lands, treaty lands and lands of self-governing Indigenous Nations are not part of the taxable areas.
Islands that are accessible only by air or water are not part of the taxable areas, except for Vancouver Island.
This information is provided for your convenience and guidance and is not a replacement for the legislation.
Contact us if you have any questions about the speculation and vacancy tax or if you need translation services.