Mayor Gregor Robertson has announced that Vancouver will move ahead with a tax on empty or under-occupied homes with our without the support of the provincial government.
The city’s report states the preferred option is for the provincial government to create and administer a new class of “residential vacant” property through BC Assessment. The designation would trigger the city to charge extra taxes on empty or under-occupied investment properties.
The second option is for the city to establish a new business tax for empty and under-occupied homes held as investment properties.
Premier Clark responded on twitter saying “We are reviewing your report and will respond quickly.”
Read the full article over at the CBC.
David Eby is definitely one of the most vocal politicians in Vancouver when it comes to issues around housing.
Have you ever wanted to ask him a question?
Now’s your chance. Eby will be hosting an ‘ask me anything’ thread on reddit today at noon (June 22nd)
His first comment on that thread:
I’m looking forward to it. A bit nervous, I’m expecting challenging questions on this important issue. I’ll do my best to answer, or to find the answers for you. I’m also interested to hear suggestions for policy opportunities and what you think needs to be done to respond to the housing crisis. See you then!
Let us know in the comments below if you spot anything note-worthy.
David Eby AMA June 22nd 12pm on Reddit.
There’s a lot of angry young people in Vancouver, people who think they deserve to be able to afford a home in this specific city. A few of the angrier ones would like to make the issue all about race, but I guess if you’re of a certain kind of mindset EVERYTHING can be about race.
It wasn’t always like this. Vancouver used to be a nice small town where the average income would be able to to stretch and afford a local detached home. Wouldn’t it be great to have gotten in at that time?
Maybe not. After all, It’s not these owners fault that property prices have gone up and up and property taxes have nudged up a bit as well.
Fortunately if you’re in this group the mayor of North Vancouver has got your back.
Mr. Mussatto said this week that he would like the province to look into separating single-family houses from condominiums and multiple-unit dwellings so owners of single-family houses could be charged a lower tax rate.
The mayor argues that while the value of single-family houses has skyrocketed in recent years, the value of condos has remained relatively stable. “If you’re a condo owner, your taxes may indeed be going down this year, because condos didn’t go up much or they didn’t go up at all compared to single-family homes,” he told me in an interview. “The bottom line is that there are some people who are getting hurt pretty significantly and I want to make sure that we’re fair with the tax system so everybody pays their fair share.”
Read the full article over at the Globe and Mail, and then if you’re so inclined go back to your racist rantings. That’s sure to be an effective way to change the way things are and get everybody on your side.
The mayor has released a statement reiterating his support for a house-flipping tax saying that without some sort of action the Vancouver economy is at risk:
Gregor Robertson says recent reports and recommendations from banks, organizations, real estate boards and economists has made it clear to him that it’s time to deal with Vancouver’s sky-rocketing real estate prices or the city’s economy could suffer.
On Sunday he released a statement amplifying his support for a house flipping tax as a measure to reduce speculation and a luxury sales tax to help, “rein in the excesses of Vancouver’s housing market.”
“First and foremost, housing needs to be for homes, not just treated as a commodity,” said the statement.
Read the full article over at the CBC.
Lots of young people like to complain about high housing costs here, but do you know why Vancouver is so expensive?
The Mayor explains:
“…Our cultural scene punches above its weight and routinely draws international attention to our theatre, music, comedy, and visual arts. In its first year, we had Canada’s largest public New Year’s Eve celebration. Hundreds of thousands of people year over year come out to watch one of the largest Pride parades in North America.
Patios stay open later, our craft breweries are exploding in popularity, and our food trucks are globally revered. Car-Free Day on Commercial Drive and Khatsahlano Fest on West 4th pack thousands of families on our streets every summer. The PuSh Festival, viff and the Folk Fest get capacity crowds and have lineups onto the street.”
We are pretty much just like London, New York and San Francisco. Read the full write up by the Gregor Robertson over at the Walrus.