Despite a meeting with B.C. Finance Minister Carole James last week, West Kelowna Mayor Gord Milsom said he doesn害羞草研究所檛 expect much to change regarding the speculation and vacancy tax in the city.

Since the tax害羞草研究所檚 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 Kelowna.

害羞草研究所淚 don害羞草研究所檛 think they really did their due diligence,害羞草研究所� he said. 害羞草研究所淲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.害羞草研究所�

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

害羞草研究所淭hey never really gave us any details as to why,害羞草研究所� he said. 害羞草研究所淭hey just added us in.害羞草研究所�

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

害羞草研究所淚害羞草研究所檓 not surprised by the numbers,害羞草研究所� he said, citing that about two-thirds of those who pay the tax province-wide are foreign owners or satellite families.

害羞草研究所淏ut in West Kelowna害羞草研究所檚 situation, that害羞草研究所檚 not the case. We have very few foreign owners and very few satellite families.害羞草研究所�

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 Kelowna came at the hands of the speculation tax.

As the tax is mainly affecting 害羞草研究所済ood West Kelowna citizens,害羞草研究所� Milsom joined several other mayors in asking James to implement an opt-in/opt-out system.

害羞草研究所淚 don害羞草研究所檛 think it害羞草研究所檚 fair to tax Canadians in that way,害羞草研究所� he said.

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

害羞草研究所淢any homes are unaffordable in those areas,害羞草研究所� Milsom said. 害羞草研究所淭he spec tax fit with other programs that help to reduce home costs in those areas.害羞草研究所�

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.

害羞草研究所淲hat does that mean? When are we going to hear from her?害羞草研究所� he said.

害羞草研究所淚t害羞草研究所檚 hard to say what she害羞草研究所檚 going to come back with.害羞草研究所�

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 Kelowna.

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READ MORE: 害羞草研究所業t hasn害羞草研究所檛 gone well害羞草研究所�: Kelowna Mayor on speculation tax

michael.rodriguez@kelownacapnews.com
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