Tax Rates for the Speculation and Vacancy Tax BC
For 2018, the tax rate is:
- 0.5% of the property’s assessed value for all properties subject to the tax
For 2019 and subsequent years, the tax rate is:
- 2% for foreign owners and satellite families
- 0.5% for Canadian citizens or permanent residents of Canada who are not members of a satellite family
The speculation and vacancy tax applies based on ownership as of December 31 each year.
A speculation and vacancy tax year is the same as a calendar year. Tax levied on December 31 is due the following July. For example, for a property owned as of December 31, 2018, the 2018 tax rate of 0.5% applies and the tax is due on July 2, 2019.
The speculation and vacancy tax has received Royal assent in the Legislature. This information is not a replacement for the law.