Development Potential Relief Program Continuation 2024 - Important Deadlines

In 2023, the City of Vancouver created the Development Potential Relief Program (DPRP) pilot that provides tax relief to select properties paying disproportionately high taxes due to development potential. Council has decided to continue the program into 2024, with new deadlines for submissions.

Over the last several years, BOMA BC has actively consulted with the City of Vancouver and the Province on the need for a solution on disproportionately high taxes on development potential, and the overall property tax burden. We believe this program is a step in the right direction that provides relief for a small amount of properties, yet it is still a very narrowly focused program.

Changes to the Development Potential Relief Program:

There are a series of program refinements listed below. It is important to note the expanded submission process of up to 6 weeks.

Deadline to submit a declaration:

If your property is eligible, you must submit a declaration by February 29th, 2024. For more information, please visit: https://vancouver.ca/home-property-development/development-potential-relief-program.aspx

For more information:

For program criteria, to calculate your tax relief, property eligibility, and ineligible uses, please visit: https://vancouver.ca/home-property-development/development-potential-relief-program.aspx