The BC Speculation Tax Just Doubled: What Presale Investors Owe in 2026

BC's speculation and vacancy tax doubled on January 1, 2026 — Canadian citizens and permanent residents now pay 1% of assessed value on an empty home up from 0.5% , and foreign owners or untaxed worldwide earners pay 3%, rising to 4% in 2027. If you're completing on a presale in Surrey, Langley, Coquitlam, Delta, Burnaby or Abbotsford, you get one free year — the year you take title — and after that a vacant unit costs you real money every December 31. Almost nobody selling you a presale mentions this. It doesn't come up at the presentation centre, it isn't in the disclosure statement, and it doesn't bite until 18 to 36 months after you sign — which is exactly why we see investors blindsided by a bill they never budgeted for. What actually changed on January 1, 2026 The rate increase was announced in Budget 2025 and took effect for the 2026 calendar year. A second increase for foreign owners lands in 2027. Tax year Canadian citizen / PR Foreign owner or untaxed worldwide earner 2019–2025 0.5% 2% 2026 1% 3% 2027 onward 1% 4% One piece of good news came with it: the automatic tax credit for B.C. residents rose from $2,000 to $4,000 for the 2026 tax year and after. At the 1% rate, that credit fully shelters the first $400,000 of assessed value on a secondary property — which is why the tax hits local investors much softer than offshore ones. The two dates that matter. The tax is assessed on who owns the property on December 31 , and you must file a declaration for every property you own in a taxable area by March 31 of the following year — even if you owe nothing. Payment, if any, is due the following July. Miss the declaration and you're assessed at the maximum rate by default. You owe nothing while the building is going up During construction you hold a contract , not title — the land is still the developer's, and developers claim the "land under development" exemption. Your clock starts when the building completes, title transfers into your name, and you are the registered owner on a December 31. A unit bought in 2024 that completes in spring 2027 has zero SVT…

This article is part of the PresaleProperties.com BC real estate guide library. It is intended for buyers comparing presale condos, townhomes, assignments, deposits, completion timelines, neighbourhoods and developer incentives across Metro Vancouver and the Fraser Valley.

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