Spring isn’t just about the market waking up – it also brings a couple of important deadlines for BC homeowners. Two of them are coming up fast. Here’s what you need to know.
Speculation & Vacancy Tax Declaration – Due March 31, 2026
A quick but important reminder: if you own residential property in a designated area of BC, you are required to file your Speculation and Vacancy Tax (SVT) declaration annually – even if you’re exempt.
The deadline this year is March 31, 2026 (for the 2025 calendar year).
99% of homeowners qualify for an exemption – but you still need to file. So does anyone else listed on title with you. Failing to do so can result in the full tax rate being applied to your property’s assessed value.
If you haven’t already, head to: gov.bc.ca/spectax. It only takes a few minutes and it’s important not to miss this one.
Property Taxes — Due July 2, 2026
Property tax bills will be mailed out in May and are typically due July 2nd for most BC municipalities. A few things worth knowing before then:
- Home Owner Grant: If you occupy your home as your primary residence, you almost certainly qualify for the Home Owner Grant, which can meaningfully reduce your property tax bill. You must apply for it each year – it doesn’t carry over automatically. Watch for the application to open in May.
- Pre-payment Plans: Many municipalities allow you to pre-pay property taxes in monthly installments throughout the year. If you’re not already enrolled, it’s worth checking whether your municipality offers this.
- Investment Properties: The Home Owner Grant does not apply to rental or investment properties – the full tax amount is due.
A Final Note
With speculation and vacancy tax, property tax, property transfer tax, the BC Home Flipping Tax, and several other obligations now at play for BC homeowners, we continue to recommend working with a good accountant who understands real estate. We’re happy to refer one if you don’t already have someone in your corner.
As always, if any of these taxes intersect with a decision to buy or sell, never hesitate to reach out.