Vancouver's Tax Deadlines: A Reminder for Property Owners

Vancouver's Tax Deadlines: A Reminder for Property Owners by Cari Mai

As we approach February 2, 2024, Vancouver property owners should mark their calendars for two crucial deadlines:

The City of Vancouver Advanced Taxes and the Empty Homes Tax (EHT) declarations.

The Advanced Property Tax, a preliminary instalment, helps the city maintain consistent cash flow for essential services. Paying on time is vital to avoid a 5% penalty. This tax, a portion of the annual property tax, is calculated based on the previous year's tax rate and property assessment. 
Information of how your property taxes are calculated HERE.

The EHT targets homes left vacant for more than six months in a year. Property owners must declare their property status to avoid the 3% tax on the property's 2023 assessed taxable value. The EHT was started in 2017 as a measure to tackle issues in housing affordability and availability in Vancouver.

Timely action can save you from unnecessary penalties and supports our collective effort in making Vancouver a better place to live. 

Submit your EHT declarations HERE.