B.C.'s Speculation and Vacancy Tax: 5 things to know

[antmas]

Do all off BC, like whistler and then you will start making a difference

[GavinPutland]

A vacancy tax is good for general taxpayers because *avoiding* the vacancy tax requires economic activity, which expands the *bases* of other taxes, allowing their *rates* to be lower.

A vacancy tax on commercial property is good for residential property owners because it keeps nearby commercial properties populated with employers and service-providers. It's good even if you're a commercial property owner because it keeps nearby commercial properties populated with complementary businesses that will attract foot traffic to *your* property!

A vacancy tax on residential property is good for commercial property owners because it keeps nearby residential properties populated with prospective customers and workers. And it's good for homeowners with mortgages because it is anti-inflationary, making the central bank less likely to raise interest rates and more likely to lower them!

And of course a vacancy tax is good for real-estate agents because it generates more rental-management fees or, if owners decide to sell rather than let, sales commissions.