News Release: SPECULATION TAX

January 30, 2019

BC’S SPECULATION AND VACANCY TAX

Recently there has been an influx of inquiries regarding the roll-out of the new BC Speculation and Vacancy Tax and how it will impact Sooke property owners. The District would like to notify its residents that this is a Provincial initiative and that the Municipality is unable to provide or collect declaration information and that we lack the control over this initiative.

What we can provide is links to the information the Province is supplying. The provincial government has implemented the speculation and vacancy tax in an effort to tackle the housing crisis in British Columbia. All residential property owners in the designated taxable regions (Area Map) in BC must complete an annual declaration, which will be mailed directly to your residence by mid-February. This declaration must be completed and returned by March 31, 2019 or you can register by phone or online.

There are valuable resources available through the Provincial website to assist you in understanding this new act.

For more information on this new Provincial tax and how to complete your declaration, please visit the BC Government website, contact them toll free at 1-833-554-2323 or via email spectaxinfo@gov.bc.ca.

Media Contact: Don Schaffer

Interim Chief Administrative Officer

Tel: (250) 642-1634

Email: dschaffer@sooke.ca

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