B.C. expands speculation tax on vacant homes to 6 more regions. Gov't says speculation tax, introduced in 2018, has resulted in thousands of new rental units.
Currently, any homeowner with a vacant residence will pay 0.5 per cent of their property's assessed value under the tax, with the tax jumping to two per cent for foreign homeowners.
Now, the provincial government says it will expand it to Lions Bay and Squamish, as well as the Vancouver Island communities of North Cowichan, Duncan, Ladysmith and Lake Cowichan.
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