As annual declaration notices are mailed out to British Columbians for the speculation and vacancy tax, BC Liberal Leadership candidate Kevin Falcon continues to campaign on eliminating it.
Falcon, who has worked for real estate developer Anthem Properties since leaving politics in 2013, spoke against the BC NDP government’s tax on vacant homes numerous times, including at BC Liberal Leadership debates.
The speculation and vacancy tax discourages speculation that inflates home prices and it turns empty houses into homes, including 18,000 condos in Metro Vancouver according to a 2021 CMHC report.
More than 99.9% of British Columbians are exempt from paying the tax, which has generated $231 million over the last three years to be invested into building homes for people. During the same period the BC NDP government has invested almost $2.8 billion in housing in the five regions covered by the speculation and vacancy tax.