B.C. speculation and vacancy tax: declaring, exemptions, and the 2027 rates
If you own residential property in one of B.C.'s 59 taxable communities, you must declare every year, even though more than 99% of residents owe nothing. Rates on empty homes go up for 2027 declarations.
The speculation and vacancy tax (SVT) is an annual B.C. tax on residential property that is left empty or underused in designated areas. Most owners are exempt, but every owner in a taxable area has to make a declaration to claim that exemption.
Who has to declare
All homeowners in the tax's 59 specified communities must declare, every year. The Province mails declaration letters each January with the information you need. The 2026 deadline was March 31, 2026.
Declaring is how you claim your exemption, so do it even if you are sure you owe nothing. The Province publishes a map of the taxable areas (linked below).
Who pays
More than 99% of B.C. residents are exempt. You generally won't pay if you:
- 01Live in the property as your home, or
- 02Rent it out for six months or more of the year, or
- 03Meet one of the other exemptions. There are more than 20.
Owners who don't qualify for an exemption may still be able to reduce the tax with SVT credits.
Higher rates from 2027
The Province is raising the rates for empty or underused homes. The increases apply to declarations made in 2027:
| Owner | Current rate | Declarations in 2027 |
|---|---|---|
| Canadian citizens and permanent residents | 0.5% | 1% |
| Foreign owners and untaxed worldwide earners | 2% | 3% |
This summary is general information only. Exemptions depend on the facts of your ownership and use; check the Province's SVT pages or ask us before you declare.
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