British Columbia Expands Housing Speculation Tax to New Areas
- Tax will apply to outlying areas near Vancouver, Victoria
- Measure has added nearly 20,000 units to rental market: BC
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British Columbia is extending a “speculation and vacancy tax” to more areas of the western Canadian province, a move to try to add supply to one of North America’s most expensive housing markets.
B.C. Finance Minister Selina Robinson said Wednesday the government plans to expand the application of the tax next year, making vacant homes in areas such as Squamish, north of Vancouver, and Duncan, near the provincial capital of Victoria, subject to the levy.