March home sales and new listings set records in Metro Vancouver VANCOUVER, BC –…
Vancouver Mayor Kennedy Stewart has sent a letter to Premier John Horgan asking the province to rescind a new tax on real estate even though Stewart supports the tax.
The tax, called a school tax surcharge, was announced as part of the B.C. 2018 budget and will start in 2019. It is an additional tax applied to homes worth $3 million or more.
It’s part of the government’s 30-point housing plan which is meant to address the housing crisis in the province.
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Those opposed to the tax argue that the tax hike is unfair and will result in a dramatic bill increase for many people, some of whom are on fixed incomes.
The letter is a result of a motion from Councillor Rebecca Bligh, which was passed on Dec. 12.
Alvin Singh, director of communications for Stewart, said the mayor voted against sending the letter, as did councillors Christine Boyle and Jean Swanson, but the motion passed with support from Green and NPA councillors.