Property Tax Issues For Sites Under Development

Property tax, for developers, is increasingly like a complicated surgical operation. There are many elements, specifically the state of your property at Oct 31 and what you do beforehand, that will significantly affect the tax you pay.

  • Additional School Tax (AST)
  • Vacancy and Speculation Tax
  • Empty Homes Tax (Vancouver)
  • Property Tax
  • Federal Vacancy Tax

Circumstances where taxes can change dramatically based upon your actions before October 31 and cause an increase or decrease in taxes are as follows:

  1. Demolition or retention of a building.
  2. Subdivision, legal consolidation, or stratification of a site.
  3. Passing of or failure to have a zoning bylaw passed
  4. Specific wording in a bylaw.
  5. Phasing of development.
  6. Creation of a park or garden.
  7. Commencing development before October 31.
  8. Change of use or occupation by a different tenant.
  9. Whether your units are rented.

If you have any questions or would like us to review your properties and ADVISE on the consequences of what actions you are proposing, please call Peter Austin at 604-733-3282 or email paustin@telus.net