Quote:
Originally Posted by Traum
I think it is a reasonable assumption that a good number of real estate investors driving up home prices are non-permanent residents without Canadian citizenship. For this group of people, wouldn't it be reasonable to slap them with heavy property tax as a deterrent to drive up housing prices?
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There are 21 municipalities in Metro Vancouver. You would need at least the agreement of the big ones (Vancouver, Richmond, Burnaby, Coquitlam, Surrey) for this to have any measurable impact on the market.
But, property taxes on non-residents is a political decision. Considering that many people work in real estate and in the development industry, it would take immense courage for local politicians to take a stand.
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