# BC Speculation and Vacancy Tax



## gardner (Feb 13, 2014)

Anyone familiar with the details of the new BC Speculation and Vacancy Tax? I have a lot in a rural area near Victoria and it is apparently within one of the designated areas where the tax applies. It seems like this year I am exempt from the new tax because there is no residence on the land. Does anyone know if the idea is that in future I will have to pay the tax even though there isn't a home, or is the exemption for this year only because I will have to re-certify each year that there is no residence, but still not pay the tax as long as there's no residence?


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## fatcat (Nov 11, 2009)

the idea is to create housing by encouraging people to not let properties sit vacant, i'm pretty sure that even the tax-loving-NDP can't figure out a way to tax you if you have no dwelling on the land

though perhaps they will come up with a tax that forces you to build low income housing for them, we shall see


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## Eclectic12 (Oct 20, 2010)

gardner said:


> Anyone familiar with the details of the new BC Speculation and Vacancy Tax?


https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax




gardner said:


> ... I have a lot in a rural area near Victoria and it is apparently within one of the designated areas where the tax applies. It seems like this year I am exempt from the new tax because there is no residence on the land. Does anyone know if the idea is that in future I will have to pay the tax even though there isn't a home, or is the exemption for this year only because I will have to re-certify each year that there is no residence, but still not pay the tax as long as there's no residence?


I'd suggest calling because a lot seems to hinge on what a "residential property" is defined as. Owning it in the designated area is written up as needing an annual declaration to claim an exemption. Some of the exemptions are for developing/building a house so it is not clear to me whether rural with no house needs to make the annual declaration.



Cheers


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## gardner (Feb 13, 2014)

gardner said:


> is the exemption for this year only because I will have to re-certify each year


Going through the process again this year, it seems that it is once again exempt, just for 2019. It seems the scheme is to make you come back each year and re-certify. Now word whether they might intend to change the rules somehow.


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## Eder (Feb 16, 2011)

Maybe you can let the homeless pitch tents there...should satisfy the requirements.


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## gardner (Feb 13, 2014)

So, for 2020 vacant land is no longer exempt. My wood lot in rural southern Vancouver Island is now going to attract extra taxes of over $2K.


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## Eder (Feb 16, 2011)

Is it province wide for vacant land?


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## nathan79 (Feb 21, 2011)

According to this, no.





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Taxable regions for the speculation and vacancy tax


The speculation and vacancy tax may apply to owners of residential property in a designated taxable region in B.C.



www2.gov.bc.ca


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## gardner (Feb 13, 2014)

It is in specific areas deemed to have high housing costs, theoretically driven by foreign ownership. The lower mainland and Victoria are the main areas. The Victoria capital region includes a pretty big catchment area including a couple of rural municipalities. The lower mainland catchment areas is even bigger.


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## AltaRed (Jun 8, 2009)

It also applies to the cities of Kelowna and West Kelowna, but not Lake Country bordering Kelowna on the north, and not to Peachland bordering West Kelowna on the west, nor does it apply to unincorporated regional district areas. It's terribly arbitrary and politically motivated.


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