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Time to declare if you will have to pay speculation or vacancy tax

People who own residential property in areas subject to the speculation and vacancy tax have until the end of March to declare.

They’ll be getting letters from the province between now and the end of February with instructions on how to complete the declaration and register for an exemption.

Areas subject to the new taxes include Bowen Island, Nanaimo and the District of Lantzville

The province says, on average, an exempt residential property owner will only need 10 to 20 minutes to complete the declaration.

Residential property owners who do not complete their declaration before April 1st will receive a tax notice of assessment and the tax will be due July 2nd.

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