BC Government’s 30-Point Plan For A Fairer Housing Market

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BC Government’s 30-Point Plan For A Fairer Housing Market

On Feb 20, 2018, the BC Government released its Budget Plan for 2018.  Making BC Housing more affordable was one of the goals addressed.  The following 7 points are taken directly from the “Government’s 30-point Plan for a Fairer Housing Market”:
  1. Taxing speculators who are driving up housing costs
  2. Increasing the foreign buyers tax rate to 20%
  3. Expanding the foreign buyers tax to areas outside of Metro Vancouver
  4. Increasing the property transfer tax on the value of homes over $3 million
  5. Increasing the school tax rate on the value of homes over $3 million
  6. Allowing online accommodation providers to apply PST and MRDT on short-term rentals
  7. Reviewing the Homeowner Grant to provide fairness for renters

These are initiatives are to be introduced later this year.  The full Budget Report can be downloaded here.

2018-04-06T09:06:21+00:00 February 28th, 2018|Burnaby-Vancouver Real Estate News, Uncategorized|