Vacant Property Tax on Commercial and Industrial Properties

Whereas the Province has adopted vacancy taxes on vacant residential properties as one tool to assure land speculation does not result in property standing fallow to the detriment of community livability and other goals; And whereas commercial property values are inflating province-wide, and increasingly face investment speculation resulting in similar underutilization of commercial property in many municipalities across British Columbia: Therefore be it resolved that UBCM urge the Province of BC to provide local governments with an option to introduce a vacant property tax applicable to commercial and industrial properties.