Vancouver empty hous tax.

[seewood]

http://vancouversun.com/opinion/op-ed/o ... e-nor-fair

This mayor definitely has NDP written all over him. How is this going to be enforced and what kind of money do they have in the kitty to fight the law suits where legitimate BC's live in the house on a part time basis? What happens if the owner does put the 3 million dollar house up for rent and asks a rent that represents a 5% return on investment? House stays empty I'd be thinking.

Just another load of nonsense that has not been thought through....

[alanjh595]

What IF......in order to comply, the house gets listed for sale for 175% over market value and it doesn't sell? Is the city going to set the selling price of a taxpayer's house?

[Hassel99]

The fine is equal to a one or two nights of Airbnb rentals.... the mayor is pretty dumb.

[Veovis]

The fine is equal to a one or two nights of Airbnb rentals.... the mayor is pretty dumb.

Radio said it was 1% of home value. That's $10,000 on a 1 million house. Take a few AIRBNB to fix that, but ya, still doable.

[Hassel99]

Radio said it was 1% of home value. That's $10,000 on a 1 million house. Take a few AIRBNB to fix that, but ya, still doable.

That is the tax, not the fine. if you do not sign up to be taxed the penalty if caught is $250. IE one or two nights of Air BNBIng. Who would sign up to be taxed when you can just plead ignorance of the sign up and worst case scenario is a $250 hit.

Those who fail to declare by Feb. 2 will have their property deemed vacant and will be subject to the tax plus a $250 fine, warned Robertson.

http://vancouversun.com/news/local-news ... -risk-fine

[Glacier]

Vancouver is so stupid. A proposal for 21 storey building was rejected in China Town. So instead of increasing the supply, they are trying to squeeze space out of existing houses.

[alanjh595]

Maybe all Vancouver hotels should also be taxed on vacant rooms?