Peace Arch News: Critics doubt value of real estate speculation tax

May 26, 2015, 2015 | Jeff Nagel | Peace Arch News/Surrey North Delta Leader                                An article quote:

“NDP housing critic David Eby called on the province to begin to measure foreign ownership of B.C. real estate, adding he believes it’s a major problem.

‘What we need is evidence about speculation, not speculation about speculation, which can quickly lead to prejudice,’ Eby said.

‘My concern is absentee investors – short term or long term – who don’t contribute to the community and just drive up values for their own profit. That is the core issue.’

Eby said other mechanisms that could be considered include rebating a portion of property tax through a B.C. income tax credit, or imposing special taxes on owners of more than one property.”

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