"The speculation and vacancy tax is an annual tax paid by some owners of residential properties in designated taxable regions of B.C. The tax is designed to discourage housing speculation and people from leaving homes vacant in B.C.'s major urban centres." Source & FAQ: Click Here
"The expansion of the Speculation and Vacancy Tax will help eliminate speculative real estate practices and turn empty units into homes for people in additional communities in B.C. struggling with housing affordability." Source: Click Here
Starting in January 2023, the communities of North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish will have the new Speculation & Vacancy Tax. It is being implemented to help ensure empty housing stock is available for the people who work and live in these popular areas.
How does the tax work? Click Here
Tax Rates: Click Here
Read more about the next tax on the provincial governments website: Click Here