Despite a meeting with B.C. Finance Minister Carole James last week, West Kelowna Mayor Gord Milsom said he doesn乌鸦传媒檛 expect much to change regarding the speculation and vacancy tax in the city.

Since the tax乌鸦传媒檚 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.

乌鸦传媒淚 don乌鸦传媒檛 think they really did their due diligence,乌鸦传媒� he said. 乌鸦传媒淲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.乌鸦传媒�

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

乌鸦传媒淭hey never really gave us any details as to why,乌鸦传媒� he said. 乌鸦传媒淭hey just added us in.乌鸦传媒�

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

乌鸦传媒淚乌鸦传媒檓 not surprised by the numbers,乌鸦传媒� he said, citing that about two-thirds of those who pay the tax province-wide are foreign owners or satellite families.

乌鸦传媒淏ut in West Kelowna乌鸦传媒檚 situation, that乌鸦传媒檚 not the case. We have very few foreign owners and very few satellite families.乌鸦传媒�

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 乌鸦传媒済ood West Kelowna citizens,乌鸦传媒� Milsom joined several other mayors in asking James to implement an opt-in/opt-out system.

乌鸦传媒淚 don乌鸦传媒檛 think it乌鸦传媒檚 fair to tax Canadians in that way,乌鸦传媒� he said.

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

乌鸦传媒淢any homes are unaffordable in those areas,乌鸦传媒� Milsom said. 乌鸦传媒淭he spec tax fit with other programs that help to reduce home costs in those areas.乌鸦传媒�

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.

乌鸦传媒淲hat does that mean? When are we going to hear from her?乌鸦传媒� he said.

乌鸦传媒淚t乌鸦传媒檚 hard to say what she乌鸦传媒檚 going to come back with.乌鸦传媒�

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: 乌鸦传媒業t hasn乌鸦传媒檛 gone well乌鸦传媒�: Kelowna Mayor on speculation tax

michael.rodriguez@kelownacapnews.com
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