Buying in Vancouver? Something you should know...

Irina Bartnik Notary Public • September 16, 2019

There are two different vacant property taxes in Vancouver: The City's Empty Homes Tax and Speculationand Vacancy Tax.

The City's Empty Homes Tax is separate from the provincial government’s Speculation and Vacancy Tax. If you have an enquiry about the Province's tax, please call 1-833-554-2323.

Both taxes have similar requirements for the exemption. Tax does not apply if property was:

  • Used as a principal residence by the owner, his/her family member or friend, or other permitted occupier for at least six months of the tax year.

or

  • Rented for residential purposes for at least six months of the current year, in periods of 30 or more consecutive days.

When you are purchasing property in Vancouver it is important to consider if you will be subject to tax in the future. It is also important to investigate the previous use and ownership of the property, to make sure that you will not get “stuck” paying the taxes for the previous owners.

Your Realtor will be able to advise you on these taxes, but if you have any questions feel free to call my office for more information. I would be happy to help.

Updated Weekly: Your Guide to Fraser Valley Holiday Events

By Emily Edwards | Fraser Valley Current • December 24, 2025
Holiday magic is happening all across the Fraser Valley this season. From tree lighting ceremonies and festive markets to concerts, parades, and family-friendly celebrations, there's no shortage of ways to embrace the spirit of the season. 👉 Guide Here

Bank of Canada maintains policy rate at 2¼%

By Bank of Canada • December 23, 2025
The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). 👉 Read the Article Here 

A guide to appealing your BC Assessment value

By Zak Khan | REW • December 22, 2025
Every January in BC, BC Assessment sends its valuations to property owners. These letters form the basis of property tax values on real estate across the province. They are based on many factors, but sometimes the assessed value may come as a shock to you. If this is the case, and you feel the assessment is incorrect, you can file an appeal. Why your BC Assessment value may not be what you expect. To help equip yourself for the best chance of success during an appeal, it’s best to review some reasons why your assessed value may not be what you expected. BC Assessment bases its valuations on the following factors: The location of the property. That is, how desirable is the place it’s located? The size of the property. Is it a tiny house or a multi-room mansion? The size of the lot. Is it a small lot, or a massive multi-acre estate? View from the home. A mountain view is worth more than a line of dumpsters. The property age. Is it newly built or an outdated structure? It could also be historically valuable. Home add-ons such as carports, garages and decks. The sales’ prices from similar homes in your area. In essence, that means that surrounding properties can have an impact on your property value, in addition to your own property. For example, if all your neighbours improve their properties by renovating their homes, upgrading landscaping and similar efforts, this could increase your assessed value as a knock-on effect. In situations like this, filing an appeal to show that you didn’t undertake similar efforts could help your appeal succeed. 👉 Read the Article Here
More Posts