Information about the Provincial Speculation & Vacancy Tax

The Speculation and Vacancy Tax (SVT) is an annual tax based on how owners use residential properties in areas in B.C. affected most by the current housing shortage crisis. The SVT has helped return vacant housing back into the market to be used as homes in core urban centres that, at the time of implementation, were experiencing near zero vacancy rates and housing prices that were disproportionately high compared to local incomes.

In order to bring the benefits of the SVT to more areas of B.C., the Provincial government recently announced the expansion of areas where the SVT applies, and Duncan and other communities in the Cowichan Valley will now be included.

The SVT is payable to the Province of B.C., not to the City of Duncan.  It will not show on your property tax notice and is not collected by the City.

For more information, refer to the City’s Speculation & Vacancy Tax Information Sheet or contact the BC Government at 1-833-554-2323.