Extension of Vacancy Taxation Authority to Local Governments
Whereas the Province of British Columbia responded to a housing affordability crisis in 2016 with legislation empowering the City of Vancouver to introduce a surtax on vacant residential properties, resulting in 38-million in revenues for that community in 2018 and creating a strong disincentive to leaving properties vacant; And whereas communities across British Columbia face housing affordability pressures, while a portion of the housing supply in all communities remains vacant, including properties that have remained derelict for years or decades, and vacant and derelict buildings pose