Despite a meeting with B.C. Finance Minister Carole James last week, West 琉璃神社 Mayor Gord Milsom said he doesn鈥檛 expect much to change regarding the speculation and vacancy tax in the city.

Since the tax鈥檚 implementation in early 2018, the mayor has been vocal about his opposition to it. While meant to target vacant properties and properties owned by real estate speculators, Milsom said that neither are prevalent issues in West 琉璃神社.

鈥淚 don鈥檛 think they really did their due diligence,鈥� he said. 鈥淲e knew, by individuals filing their property taxes, as to whether or not they were foreign owners. We realized very quickly that this tax would impact mainly Canadians.鈥�

The mayor said there has been little explanation as to why West 琉璃神社 was included in the tax in the first place.

鈥淭hey never really gave us any details as to why,鈥� he said. 鈥淭hey just added us in.鈥�

Milsom said in West 琉璃神社 the tax is mainly taking its toll on B.C. residents, those with summer homes and the job market.

鈥淚鈥檓 not surprised by the numbers,鈥� he said, citing that about two-thirds of those who pay the tax province-wide are foreign owners or satellite families.

鈥淏ut in West 琉璃神社鈥檚 situation, that鈥檚 not the case. We have very few foreign owners and very few satellite families.鈥�

He cited a Canadian Home Builders of the Central Okanagan report which said a 17 per cent reduction in jobs related to residential construction in West 琉璃神社 came at the hands of the speculation tax.

As the tax is mainly affecting 鈥済ood West 琉璃神社 citizens,鈥� Milsom joined several other mayors in asking James to implement an opt-in/opt-out system.

鈥淚 don鈥檛 think it鈥檚 fair to tax Canadians in that way,鈥� he said.

Several mayors at the meeting were supportive of the tax, coming mostly from the larger cities, including Vancouver and Victoria.

鈥淢any homes are unaffordable in those areas,鈥� Milsom said. 鈥淭he spec tax fit with other programs that help to reduce home costs in those areas.鈥�

Milsom said James is taking the feedback from all of the mayors present at the meeting into consideration but is unsure if any changes will be made. She said if any changes need to be made, they would be done before the end of the year.

鈥淲hat does that mean? When are we going to hear from her?鈥� he said.

鈥淚t鈥檚 hard to say what she鈥檚 going to come back with.鈥�

According to the Ministry of Finance, revenue from the tax totalled $115 million for the 2018-19 fiscal year and just over $1 million came from West 琉璃神社.

READ MORE: Central Okanagan to have childcare needs assessed by study

READ MORE: 鈥業t hasn鈥檛 gone well鈥�: 琉璃神社 Mayor on speculation tax

michael.rodriguez@kelownacapnews.com
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