Minimizing Property Tax on Development Land

Any action you do or do not take before or after Oct 31 and November 30 will affect the amount of tax you have to pay. Several Government Acts and rules governing the methodology of determining the assessed value, will affect what you pay.

The acts refer to certain relevant dates:
1. Value—July 1st
2. State and Condition—October 31st
3. Legal title—November 30th
4. School Tax—October 31st & November 30th
5. Classification—October 31st
6. Speculation Tax—December 31st
7. Empty Homes Tax—December 31st

Possible actions are listed below, together with what that action may affect in regards to resulting tax increase or decrease.

1. Consolidation or subdivision
a. School tax
b. Value
2. Use of a site
a. School tax
b. Classification
c. Speculation tax
d. Empty homes tax (Vancouver)
3. Zoning
a. School tax
b. Classification
c. Value
4. Demolition
a. Classification
b. Speculation tax
c. Empty homes tax (Vancouver)
5. Start of development
a. School tax
b. Speculation tax
c. Empty homes tax (Vancouver)
6. Creation of Strata Lots
a. Value
b. Speculation tax

If you would like to go over the tax consequences in more detail, as related to your particular properties, please let me know. Peter Austin 604 733 3282