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British Columbia real-estate and foreign buyer taxes


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#721 tjv

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Posted Yesterday, 01:16 PM

I just want to confirm this only applies to people who own 2 or more residential properties in the designated "zones"?

 

and as Lanforod stated this is stupid, just add a line in when people apply for the Homeowners Grant on their property taxes.  Pure government waste!



#722 Victoria Watcher

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Posted Yesterday, 01:20 PM

if 

 

I just want to confirm this only applies to people who own 2 or more residential properties in the designated "zones"?

 

and as Lanforod stated this is stupid, just add a line in when people apply for the Homeowners Grant on their property taxes.  Pure government waste!

 

if you rent a house in nelson where you live and own a sometimes-empty vacation condo in victoria it applies.


Edited by Victoria Watcher, Yesterday, 01:20 PM.


#723 spanky123

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Posted Yesterday, 01:20 PM

Maybe I am dumb but how does the speculation tax differ from the proposed vacancy tax that the City wants to impose? 

 

Edit: Answered my own question. https://www2.gov.bc....and-vacancy-tax

 

In a nutshell they target the same properties, it is just that one tax goes to the Province and the other to the muni.


Edited by spanky123, Yesterday, 01:23 PM.


#724 spanky123

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Posted Yesterday, 01:21 PM

there already is a form primary homeowners have to fill out if they want a tax discount on property tax. Why the heck can't they piggyback on that one?

 

Because then the NDP wouldn't be able to hire one of their buddies to oversee the new business unit. :-)



#725 jonny

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Posted Yesterday, 01:25 PM

I haven't gone through all the exemptions, but I think it basically applies if the house is empty for more than 9 months of the year. It's more an empty homes tax than a speculation tax.  

 

You can be a Mexican who owns 100 homes in Greater Victoria and not pay any speculation tax if all of the homes are rented out for at least 3 months of the year. 



#726 DavidSchell

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Posted Yesterday, 04:34 PM

there already is a form primary homeowners have to fill out if they want a tax discount on property tax. Why the heck can't they piggyback on that one?

 

Guess they never heard of the home owner's grant , such a waste of taxpayer money to go in this direction.



#727 Jackerbie

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Posted Yesterday, 04:57 PM

I haven't gone through all the exemptions, but I think it basically applies if the house is empty for more than 9 months of the year. It's more an empty homes tax than a speculation tax.  

 

You can be a Mexican who owns 100 homes in Greater Victoria and not pay any speculation tax if all of the homes are rented out for at least 3 months of the year. 

 

6 months, right?



#728 Victoria Watcher

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Posted Yesterday, 05:19 PM

For owners to be eligible for a tenancy exemption, tenants must occupy the residence for at least six months of the year (three months for 2018).

https://www2.gov.bc....cy-requirements

Edited by Victoria Watcher, Yesterday, 05:20 PM.


 



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