CKNW: David speaks to property tax deferrals costing province $131 million

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CKNW | Shelby Thom | January 06

Quoted from the article:

Vancouver Point Grey NDP MLA David Eby questions if it’s achieving what it was intended for.

“I think it is a huge waste of money to allow millionaires to defer their property taxes through this program and to have the public subsidize that deferment. So certainly a means test is one of the ways to address that issue, but there is a huge number of people depending on this program to stay in their houses, simply this issue is deeper than putting in a means test.”

Eby says it may be time to sit down and reassess the program.

“Did anyone ever imagine that there would be more than $100 million in deferred property taxes? The cost of this program must be going through the roof. Is it achieving what was intended? And is it responsive to the crisis that we are facing in the 2016 real estate market?”

Read the full article here: http://www.cknw.com/2016/01/06/province-spending-131-million-to-cover-property-tax-deferrals/