The mayor of Vancouver, one of Canada’s most expensive housing markets, has called for taxes on provincial luxury housing tax and property flippers, as well as the power to cut the number of unoccupied homes.
Mayor Gregor Robertson made his requests known to Premier Christy Clark through a letter released to the public on Wednesday, arguing it is Vancouver’s responsibility to curb “unwarranted speculation” by “the world’s wealthiest citizens” who are behind Vancouver’s worst-ever housing affordability crisis.
He also suggested through the letter he wrote on May 22 that the province legislate a property transfer tax for the city’s most expensive properties. The proceeds, Robertson suggested, should go to a housing affordability fund.
The mayor said he also wants Vancouver to allow municipalities to track property ownership and limit “excessive vacancies.”
According to Vancouver Sun
, Roberston added the measures “would help moderate the excesses of the Vancouver housing market and ... slow the surging prices that are forcing renters and prospective buyers to leave the city.”
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