03/23/2026
🏡 BC Homeowners: Don’t Forget Your Speculation & Vacancy Tax Declaration!
If you own residential property in B.C. within a designated taxable area, you likely need to complete the annual Speculation & Vacancy Tax declaration each year.
Here’s the quick breakdown 👇
• 📬 Declaration letters are sent between mid-January and mid-February
• 🗓 Deadline to declare: March 31
• 🧾 You’ll report how the property was used the previous year
• 👥 Each owner on title must declare separately (even spouses)
• ⚠️ If you don’t declare, you could be charged the maximum tax rate of 2% of the property’s assessed value
This tax is meant to encourage homes to be lived in rather than left vacant, and the revenue helps support affordable housing in B.C.
đź’ˇ Good to know:
The Speculation & Vacancy Tax is different from Vancouver’s Empty Homes Tax and the federal Underused Housing Tax, so some homeowners may need to declare for more than one program.
✔️ Tip for homeowners: When you receive your letter, don’t ignore it — even if you think you’re exempt, you still need to declare.
Thinking about buying, selling, or investing in real estate and want to understand the taxes involved?
đź“© Feel free to reach out anytime!
https://www2.gov.bc.ca/gov/content/taxes/speculation-vacancy-tax
MPJ REAL ESTATE GROUP
604-726-9106
