CRD To Ask Province to Opt Out of Speculation Tax

Apr 12, 2018

Victoria, BC– The Capital Regional District (CRD) Board has approved a motion to call upon the Province of British Columbia to allow municipalities in the capital region to opt out of the new housing speculation tax. The motion was brought forward by CRD Director Denise Blackwell on behalf of Langford council at the April 11, 2018 Board meeting.

The motion states:

  • Whereas the BC Speculation Tax imposes an unfair tax burden on British Columbians and other Canadians who wish to purchase or own a second home in British Columbia, and;
  • Whereas the tax was imposed on municipalities without consultation or economic modelling of its impact, and;
  • Whereas the Government of British Columbia has already removed Parksville, the Gulf Islands, the Juan de Fuca Electoral Area and other areas due to pressure from various Members of the BC Legislature;
  • Therefore be it resolved that the Capital Regional District calls upon the BC Government to allow municipalities to opt out of this new housing speculation tax and;
  • Be it further resolved that the Capital Regional District put forward the above resolution for debate and consideration at this year’s 2018 UBCM Convention.

The speculation tax was introduced by the BC Government in February as part of the 2018 Budget.

“There are concerns about the impact of this tax on our communities and residents who own vacation property or second homes in the capital region,” said Board Chair Steve Price. “We are urging the province to re-evaluate its approach to housing affordability and consider alternate solutions at the UBCM Convention in September.”

The CRD delivers regional, sub-regional and local services to 13 municipalities and three electoral areas on southern Vancouver Island and the Gulf Islands. Governed by a 24-member Board of Directors, the CRD works collaboratively with First Nations and all levels of government to enable sustainable growth, foster community well-being, and develop cost-effective infrastructure while continuing to provide core services to residents throughout the region. Visit us online at www.crd.bc.ca.

 

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For media inquiries, please contact:
Andy Orr, Senior Manager
CRD Corporate Communications
Tel: 250.360.3229
Cell: 250.216.5492