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)

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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A woman wearing a face mask to curb the spread of COVID-19 uses walking sticks while walking up a hill, in New Westminster, B.C., on Sunday, November 29, 2020. THE CANADIAN PRESS/Darryl Dyck
Interior Health reports 83 more COVID-19 infections overnight

46 cases are now associated with a COVID-19 community cluster in Revelstoke

A man wearing a face mask to prevent the spread of COVID-19 walks past a mural in Vancouver on Monday, Nov. 30, 2020. THE CANADIAN PRESS/Marissa Tiel
212 new COVID-19 cases in Interior Health over the weekend

A total of 490 cases remain active; 15 in hospital

(Metro Creative Photo)
Hey kids, time to write up some holiday magic

The contest is open to students and home-schooled students

Wood chips and a pile of scrap metal is what's left of the District of Clearwater's chip silo as an early morning fire broke out at the Dutch Lake Community Centre Saturday morning. The mayor said in a Facebook post the DOC does have a secondary heating system. (Stephanie Hagenaars photo)
Early morning fire takes DOC chip silo

The blaze was contained to the DLCC external heating system and corner of gym

Japanese knotweed plants are pretty, like broom, but are just as relentlessly invasive. (Submited)
TNRD looks to expand invasive plant program to municipalities

The TNRD’s 11 municipalities are currently not part of the invasive plant program

A tongue-in-cheek message about wearing a face mask to curb the spread of COVID-19 on a sign outside a church near Royal Columbia Hospital, in New Westminster, B.C., on Sunday, Nov. 29, 2020. THE CANADIAN PRESS/Darryl Dyck
B.C.’s COVID-19 infection count climbs back up to 656

20 more people in hospital, active cases still rising

(Needpix.com)
Fraudsters projected to use pet scams to gouge over $3M from customers: BBB

The pandemic heavily contributed to the number of puppy scams

A teacher places the finishing touches on the welcome sign at Hunter’s Glen Junior Public School which is part of the Toronto District School Board (TDSB) during the COVID-19 pandemic in Scarborough, Ont., on Sept. 14, 2020. THE CANADIAN PRESS/Nathan Denette
Hindsight 2020: How do you preserve a year many Canadians would rather forget?

Figuring out how to preserve the story of the pandemic poses a series of challenges

Haley Callison. (Facebook photo)
Former B.C. pro hockey player frustrated with COVID-deniers after horrific bout with virus

Haleigh Callison hopes people will follow precautions and tone down the rhetoric

A man stands in the window of an upper floor condo in Vancouver on March 24, 2020. THE CANADIAN PRESS/Darryl Dyck
Change made to insurance for B.C. condo owners amid rising premiums

Council CEO Janet Sinclair says the change will mean less price volatility

The Walking Curriculum gets students outside and connecting with nature. (Amanda Peterson/Special to S.F. Examiner)
‘Walking Curriculum’ crafted by SFU professor surges in popularity

The outdoor curriculum encourages students to connect with the natural world

THE CANADIAN PRESS/Nathan Denette
B.C. researchers launch study to test kids, young adults for COVID-19 antibodies

Kids and youth can often be asymptomatic carriers of the novel coronavirus

Most Read