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Key Real Estate Changes Announced in the Government of British Columbia 2026 Budget

Posted on Feb 25, 2026 in Finance/Economy



By Janine Thomson - Victoria Realtor | Pemberton Holmes

The BC Government’s Budget was tabled on February 17, 2026, revealing the Province’s plan to slow the delivery of its housing strategy. Below are the following changes impacting real estate:

  • Effective October 1, 2026, the Provincial Sales Tax is expanded to certain professional services. This encompasses non-residential real estate services, including trading, rental property management, and strata management services.

  • Effective January 1, 2027, the Additional School Tax rates will be increased from 0.2 per cent to 0.3 per cent for property values between $3 million and $4 million, and from 0.4 per cent to 0.6 per cent for property values above $4 million.

  • Effective January 1, 2027, the northern and rural home owner benefit will be repealed.

  • Effective January 1, 2027, the Speculation and Vacancy Tax rate will be increased for foreign owners and untaxed worldwide earners, from three per cent to four per cent.  

  • The government intends to undertake a formal review of CleanBC programming.

Disclaimer

The information provided in these posts is for general informational purposes only and should not be construed as legal, financial, or professional advice. The content is not intended to create, and receipt of it does not constitute, a client relationship or the provision of professional advice of any kind. No individual or entity should act or refrain from acting based solely on the information contained in this blog, any linked materials, or related content without first seeking appropriate legal or professional counsel. While every effort has been made to ensure the accuracy and reliability of the information presented, no liability or responsibility is assumed for any errors, omissions, or the outcomes resulting from the use or reliance upon this material. Readers are strongly encouraged to consult qualified professional advisors before making decisions based on any information contained herein.

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