BC Empty Home Tax Calculator 2026

BC Speculation and Vacancy Tax Rates

The speculation and vacancy tax (SVT) rates depend on the homeowner’s tax residency. For the years 2019 to 2025, the speculation tax rate in B.C. was:

• 0.5% for Canadian citizens and permanent residents
• 2% of the property’s assessed value for foreign owners, and untaxed worldwide earners

For 2026 and the subsequent years, the speculation tax in B.C. has been raised to:

• 1% for Canadian citizens and permanent residents
• 3% of the property’s assessed value for foreign owners, and untaxed worldwide earners

Example of Speculation and Vacancy Tax

For example, a foreign owner’s property with an assessed value of $1M would pay $30,000 a year in speculation tax for the year 2026 (paid in 2027). Whereas, a Canadian citizen or permanent resident would pay $10,000 in speculation and vacancy tax for a $1M property for the year 2026.

Property Owner’s Residence Status

• A foreign owner is someone who is not a Canadian citizen nor a permanent resident of Canada.
• An untaxed worldwide earner refers to someone whose unreported income in Canada exceeds their reported total income in Canada. For this calculation, a person’s income is combined with their spouse’s income, regardless of citizenship status. This means that if you are a Canadian citizen or permanent resident who earns the majority of your income outside of Canada, you will be classified as an untaxed worldwide earner. Another term used for untaxed worldwide earners is a satellite family, where one spouse lives in Canada and earns little to no income, while the other spouse lives outside Canada and generates most of the family’s income.

Taxable Regions

The BC Speculation and Vacancy Tax was originally introduced for properties in the following areas:

• Capital Regional District (CRD)
• Metro Vancouver Regional District
• City of Abbotsford
• City of Chilliwack
• City of Kelowna
• City of Nanaimo
• City of West Kelowna
• District of Lantzville
• District of Mission

From 2023 (first payment in 2024), the BC Speculation and Vacancy Tax was also expanded to properties within:

• City of Duncan
• District of North Cowichan
• District of Squamish
• Town of Ladysmith
• Town of Lake Cowichan
• Village of Lions Bay

From 2024 onwards (first payment in 2025), the BC Speculation and Vacancy Tax was also expanded to properties within:

• City of Courtenay
• City of Kamloops
• City of Parksville
• City of Penticton
• City of Salmon Arm
• City of Vernon
• District of Coldstream
• District of Lake Country
• District of Peachland
• District of Summerland
• Town of Comox
• Town of Qualicum Beach
• Village of Cumberland

Vancouver homeowners are responsible for both the BC Speculation and Vacancy Tax and the Vancouver Empty Home Tax.

If the property is located in British Columbia but outside the designated taxable regions, you are not required to pay the speculation and vacancy tax.

When and How to Declare for the Speculation and Vacancy Tax

If you own a residential property in any of the areas listed above, you are required to complete a declaration for the BC speculation tax once early at the beginning of each year. You can declare online or over the phone after you receive your declaration letter. The top right hand corner of your declaration letter will contain your Letter ID and Declaration Code, which you will need to complete the declaration. All declaration letters will be mailed out between the months of January and February by the Government of British Columbia. The declaration must be completed by the end of March, and the speculation tax for the prior year must be paid by the first business day of July. For example, the declaration for 2025 must be completed by the end of March 2026, and the speculation tax must be paid by July 2, 2026.

If the property has multiple owners, each individual is required to make a separate declaration, even if the other owners are relatives or spouses. Documents you will need to complete the declaration as an individual include:

• The declaration letter that was mailed to you (it contains the Letter ID, Declaration Code, and a list of all the properties you own)
• Your SIN number
• Your date of birth

Common Speculation Tax Exemptions

Some common speculation and vacancy tax exemptions include the principal residence and tenancy exemptions.

• Individuals may be exempt from the SVT if the home is their principal residence. If you own multiple properties, you may only claim one property as your principal residence. Spousal units can only claim separate principal residences if they are living apart for work reasons, medical reasons, or are divorced or separated.
• You may also be exempt from the Speculation Tax if your property is occupied by a tenant for more than six months in the calendar year.
• If the house is damaged or becomes uninhabitable for at least 60 consecutive days in a calendar year, with no fault of the owner, the property may be exempt from the SVT for that year and the following year if it's not repaired by March 1.
• Properties that are newly purchased or inherited may be exempt from the SVT if the owner has paid a property transfer tax or is exempt for one of the acceptable reasons.

There are several other conditions under which the owner might be exempt from paying the BC Speculation and Vacancy Tax. You can find more information on the BC Government's website.

History and Impact

The Speculation and Vacancy Tax was introduced by the British Columbia government on December 31, 2018, at the peak of the real estate crisis. The initial rate was 0.5% of the property’s assessed value per year for all properties within the targeted regions.

For the years 2019 - 2025, the speculation tax was 2% for foreign owners and 0.5% for Canadian Citizens and permanent residents who earned the majority of their income within Canada.

As of 2026, the tax rate for foreign owners will increase to 3%, while the rate for Canadian citizens and permanent residents will increase to 1%.

According to the BC Government website, the province generated $75 million in revenue from the Speculation and Vacancy Tax in 2023, which will help fund affordable housing projects in the regions where the tax applies.