Kelowna Picture

New “Speculation Tax” to hit Kelowna and West Kelowna Exclusively

February 28, 2018 10:54 am

February 22, 2018: The popular Central Okanagan Regional District, known for its desert-like climate, lakes and vineyards, is newly included in the province’s existing foreign-buyers tax, which will rise from 15 per cent to 20 per cent.

New housing taxes, aimed at out-of-province property owners, in the B.C. NDP’s provincial budget are set to include only Kelowna and West Kelowna, along with Metro Vancouver, the Fraser Valley and the Capital and Nanaimo regional districts on Vancouver Island while other popular Okanagan regions and cities, such as Penticton, are excluded.

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