Some Speculation & Vacancy Tax letters have gone astray
In order to be exempt from the Speculation and Vacancy Tax, Lions Bay property owners must complete a declaration about the use of their property by March 31 each year. Failure to do so could result in a tax bill amounting to 0.5 percent of the assessed value of your property.
The Province sent a letter to all property owners in the Village on January 19. The letters contained information unique to each property which enabled the owner to make a declaration online. Specifically, the letters contain a Letter ID and a Declaration Code.
One of our readers became concerned when some of his neighbours had received their letters but he had not.
He called the Speculation and Vacancy Tax information number (833-554-2323) and explained the problem. The person at the Tax office was able to determine that the letter had been returned as “undeliverable”. That likely indicated the address on the envelope did not contain the P.O. Box number for the recipient.
Fortunately, the person who took the phone call was able to provide the Letter ID and Declaration Code over the phone. The Lions Bay resident was then able to go online to complete the declaration.
Make your online declaration HERE.
It is important to note that each person listed on the property title is expected to make a separate declaration. Each individual will have been sent a separate letter containing a unique set of information for that purpose.
It's also worth noting that this problem will likely manifest itself again next year at this time unless the mailing address at two sources is changed to include the P.O. Box number for the property owner.
The two places to check for your mailing address accuracy are the Land Title and Survey Authority (LTSA) and B.C. Assessment.
Where to change your address:
Know someone whose tax assessment letter went missing? Did yours? Share your thoughts below, or email editor@lionsbaywatershed.ca
I know 4 other LB residents who have not received their declarations so the information provided in this article will be very helpful!