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Gov't proposed 2% property tax

March 21, 2018, 1:05 p.m.
Posts: 1646
Joined: Jan. 12, 2010

What's NSMB's take on the BC government's proposed annual 2% of home value tax on out of province owners in the lower mainland and Okanagan?

Solution to rental rates in Van and Kelowna? Great way to drive down home prices and values for everyone?  BC for BC born and nobody else?  Way to get people to move primary residences and cash in on more income tax?

March 21, 2018, 1:41 p.m.
Posts: 34312
Joined: Nov. 19, 2002

How much is it expected to bring in annually?

March 21, 2018, 1:54 p.m.
Posts: 10975
Joined: June 4, 2008

Not a solution to rental rates.

Hopefully it will drive down home prices.

Anyone can live here, even if you're originally from Manitoba.

Assuming you own a home, on a scale of 1-10, how lucky are you in relation to your net worth?

March 21, 2018, 3 p.m.
Posts: 1646
Joined: Jan. 12, 2010

I have no idea what it'd bring in, but I assume a boatload of money.

If non-BC resident ownership is driving the price of homes, then chasing it away would drive down prices.  I wonder what that'd do to BC owners that have mortgages?  When they get reassessed and suddenly have a house worth less than the mortgage? Will the government step in and guarantee these mortgages?

March 21, 2018, 3:19 p.m.
Posts: 10975
Joined: June 4, 2008

The government should only step in and guarantee the mortgages of people who aren't against socialism.

A fiscally conservative government that had the best interests of its constituents would have solved this problem a decade ago and wouldn't have left us in such a precarious state.   It's a shame those haven't existed either provincially or federally for decades at least (if ever).

March 21, 2018, 6:51 p.m.
Posts: 812
Joined: March 18, 2017

Tax isn't enough imo.  Should cover all of BC not select areas.  

Lot of people crying over this; including the retired politician/senator living on Saturna Island and owning a condo in DT Van for "medical" appointments.

March 21, 2018, 8:56 p.m.
Posts: 1387
Joined: May 23, 2006

Posted by: ReductiMat

Assuming you own a home, on a scale of 1-10, how lucky are you in relation to your net worth?

About a 10+ divided by 2. lol!

March 22, 2018, 6:53 a.m.
Posts: 137
Joined: Oct. 23, 2003

Posted by: Endur-Bro

Tax isn't enough imo.  Should cover all of BC not select areas.  

Lot of people crying over this; including the retired politician/senator living on Saturna Island and owning a condo in DT Van for "medical" appointments.

I know right? fucking whammmbulance is on its way guys. 

I have a hard time giving any fucks for those pricks.

March 22, 2018, 7:36 a.m.
Posts: 1646
Joined: Jan. 12, 2010

I love the distinctly BC opinion on markets.  

I'm genuinely interested to see what would happen if the tax comes in.  Specifically, if it "fixes" the BC housing market.

March 22, 2018, 8:06 a.m.
Posts: 10975
Joined: June 4, 2008

Posted by: jitenshakun

I love the distinctly BC opinion on markets.

No kidding.  Unlike the Chinese, Singaporean or the Kiwi's, we're a bunch of dumb fucks who can't see three inches past our nose and recognize that allowing international monies to use our housing stock as a parking lot for wealth rips communities apart.  If we were smart like them, we'd ban it outright.

But you knew all that, right?

March 22, 2018, 9:31 a.m.
Posts: 1646
Joined: Jan. 12, 2010

My view is that when someone in AB makes money another Albertan will say "Huh, must have worked hard and good on them." When someone in BC makes money it seems like they must be a crook or some villain that screwed over the people of BC in some way.


 Last edited by: jitenshakun on March 22, 2018, 9:31 a.m., edited 1 time in total.
March 22, 2018, 9:33 a.m.
Posts: 14374
Joined: Nov. 20, 2002

I know a Vancoverite who bought 2 houses and a store on main street for 1 million locally way better more stable investment tthan a crack shack in east Van

I can get you a 23 room Inn for only 2.35 million, you could own it in 14 yrs and just be a useless fuck like me

March 22, 2018, 10:11 a.m.
Posts: 16115
Joined: Nov. 20, 2002

Posted by: jitenshakun

My view is that when someone in AB makes money another Albertan will say "Huh, must have worked hard and good on them." When someone in BC makes money it seems like they must be a crook or some villain that screwed over the people of BC in some way.

Must be nice to easily slot people into one box or another.  So nobody in Alberta has ever had a leg up on education or finances from family that maybe a poorer family couldn't afford?  Is the poor family poor because they don't work hard enough?

March 22, 2018, 10:19 a.m.
Posts: 1646
Joined: Jan. 12, 2010

Posted by: KenN

Must be nice to easily slot people into one box or another.  So nobody in Alberta has ever had a leg up on education or finances from family that maybe a poorer family couldn't afford?  Is the poor family poor because they don't work hard enough?

I know more than a few Albertans that started off poor, didn't have any family money, didn't get an education - yet worked hard their whole lives at a business and did well for themselves and their family.  Same type of people exist in BC and across Canada.

Canada has a boatload of opportunity compared to a lot of the world and I believe that your choices lead you to where you are.   Help at the start helps - just as much as bad advice will hurt someone.

March 22, 2018, 10:41 a.m.
Posts: 10975
Joined: June 4, 2008

Posted by: jitenshakun

My view is that when someone in AB makes money another Albertan will say "Huh, must have worked hard and good on them." When someone in BC makes money it seems like they must be a crook or some villain that screwed over the people of BC in some way.

That's not what I was asking.

Do you believe allowing international monies to use our housing stock as a parking lot for wealth is a detriment to a communities health?

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