Homes in Vancouver which are unoccupied for 6 full months of the year or more, will be subject to the 1% EMPTY HOMES TAX.
The tax is equal to 1% of the property's taxable assessed value in addition to the existing property tax and will be applied annually.
Who won't be subject to the tax?
Residences being used as a principal residence by the owner, a family member, a friend or any other person occupying with the permission of the owner but is not a tennant or sub tennant, will NOT be charged the tax.
Nor will properties that are rented long term (with a written tennancy agreement) for at least 30 days in a row for a minimum of 6 months in aggregate over the course of a year.
For greater detail and how this particular tax applies to you, it is always important to seek proper advice such as with an accountant or lawyer. More info also available at:
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