Published 3 days ago • loading... • Updated 2 days ago

B.C. Speculation Tax Declarations Due Soon, Includes More Communities in Southern Interior

On Monday, MLA Harwinder Sandhu reminded residents of Vernon-Lumby to submit their declarations for the speculation tax by the deadline on March 31.
The speculation tax, introduced in 2018, expanded in November 2023 to include 13 communities like Vernon and Coldstream.
The tax applies to second homes not rented out and requires declarations based on 2024 property use, covering 59 communities now.
In 2023, the sixth year of the tax, 82 percent of revenue came from foreign owners, Canadians living outside BC, and other non-resident groups.
This tax aims to convert empty homes into housing for those in need by taxing unused properties owned by non-residents and absentee owners.

Insights by Ground AI

Does this summary seem wrong?

10 Articles

All

Left

Center

Right

castanet.net

Center

B.C. speculation tax declarations due soon, includes more communities in Southern Interior

Declarations are coming due for B.C. speculation tax – this year that includes 13 added communities, many right here in the Thompson Okanagan.

2 days ago·Kelowna, Canada

Read Full Article

crestonvalleyadvance.ca

+5 Reposted by 5 other sources

Lean Left

‘I live here’: B.C. woman stunned by $110K speculation tax bill

'Every day I wake up and wonder if I’m going to lose my house,' says Maureen Washington

3 days ago

Read Full Article

Peninsula News Review

Reposted by

Oak Bay News

Lean Left

‘I live here’: Saanich woman stunned by $110K speculation tax bill

'Every day I wake up and wonder if I’m going to lose my house,' says Maureen Washington

3 days ago

Read Full Article

Penticton Herald

Speculation tax extended to Penticton, Summerland

Six more Okanagan communities will soon be subject to the speculation and vacancy tax, which penalizes property owners for letting rental homes sit empty.

2 days ago

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year