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With home prices in Canada's most expensive market going up at a dizzying pace, a Vancouver-based think-tank is proposing a new tax on homes valued at over $1 million to help bridge the affordability gap.
VANCOUVER — An annual surtax on houses valued over $1 million could help reduce housing inequality and cool housing markets, a report says.
From the speculation and vacancy tax to the foreign buyers tax, B.C.'s current measures designed to improve housing affordability haven't managed to slow a market that's often considered a cash cow. Now, a West Coast think tank argues a surtax on equity may be part of the solution.
VANCOUVER - An annual surtax on houses valued over $1 million could help reduce housing inequality a...
VANCOUVER — An annual surtax on houses valued over $1 million could help reduce housing inequality and cool housing markets, a report says.