Despite holding the approval of 80 percent of British Columbians, local governments are still not sold on the NDP’s housing speculation tax.
During day 3 of the Unions of BC Municipalities annual convention yesterday, attendees gave near-unanimous support to a resolution that would allow them to opt out of the program.
Local government officials are concerned that the tax would negatively affect those with vacation homes or seasonal properties, and believe the decision to charge the tax should be made locally.
In response to the resolution, Minister of Finance Carole James said that, while she understands concerns, the tax is necessary to address the affordable housing crisis and will go ahead as planned.
