The BC Government has announced that home owners must register for an exemption in order to avoid being charged the new BC Speculation and Vacancy Tax.
Get their latest updates at What's new in Speculation and Vacancy Tax.
The Capital Region (including Colwood) is included on the list of Taxable Regions at: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-...
According to the BC Government website: "All owners of residential property in the designated taxable regions of B.C. must complete an annual declaration. Over 99% of British Columbians are estimated to be exempt from the tax."
How to claim your exemption
To claim your exemption, you must register your property by March 31, 2019 either by phone or online. The information you’ll need to register your property declaration will be mailed by mid-February to all owners of residential property within the taxable regions.
Contact the BC Ministry of Finance:
Toll Free: 1 (833) 554-2323
(Outside North America) Office: 1 (604) 660-2421
Read more on the BC Government website at: www.gov.bc.ca/spectax