Speculation tax paperwork being mailed out in Central Okanagan

Spec tax forms mailed out

Residential property owners in the Central Okanagan can expect their speculation and vacancy tax declaration packages to arrive in the mail starting next month.

Owners can complete their declaration as soon as they receive the package. The quickest way to do so is online.

While more than 99 per cent of British Columbians are exempt, all residential property owners must go through the declaration process.

The provincial government says homeowners in Kelowna should start receiving their packages on Feb. 5 while West Kelowna will get them a few days later on Feb. 8.

All required declarations must be completed by March 31, 2021. If owners are not exempt, they must pay their assessed amount by July 2, 2021. Starting this year, a penalty may be applied on all owners who do not pay tax amounts by the due date.

Information on exemptions can be found here.

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