The City of Vancouver, BC Canada requires that Vancouver homeowners submit a yearly declaration to determine if their property is subject to the Empty Homes Tax. Any properties which are deemed empty or declared empty, will be subject to an empty home tax.
What is the Vancouver Empty Home Tax?
The Vancouver BC Empty Home Tax was introduced by the City of Vancouver in 2017. It's intended to return some underutilised homes to the long term rental market to increase the number of rental units within the city.
Does the Vancouver Empty Home Tax Apply to You?
Generally, the tax applies to properties which are not occupied for at least 6 months of the year. Most properties will not be subject to the tax, as it does not apply to those that are either principal residences or rented out for residential purposes at least six months of the year (in periods of 30 consecutive days). Additionally, there are several permissible exemptions to the tax. Determine if the Vancouver Empty Home Tax applies to you.
How Much is the Vancouver Empty Home Tax Rate
The tax will be assessed on the taxable value.
- For the 2022 reference year, the tax rate is 3%.
- Beginning for the 2023 reference year, the rate will increase to 5%.
More Information on the Vancouver Empty Home Tax
View the City of Vancouver Information Package.
Contact us if you have any questions.