B.C. supports housing vacancy tax in Vancouver to assist with rental shortage
VANCOUVER — The British Columbia government will support the city of Vancouver’s request for a tax on vacant housing, but questions remain about who will pay the costs of enforcement.
Finance Minister Mike de Jong has announced the legislature will meet July 25 to consider revisions to the Vancouver Charter that would allow the city to create and collect the tax.
De Jong said the levy is aimed at improving the supply of rental homes in the city’s superheated real estate market, while waiting for new construction to come online.
“There’s no question that, in addition to the conversations that we have been having about affordability with respect to the purchasing market, there are challenges for folks wanting to rent,” he said at a news conference Monday.