The province’s capital region is looking to follow in Metro Vancouver’s footsteps taxing foreign buyers and vacant homes.
Victoria City Councillor and member of the 13 Municipalities Regional Board Ben Isitt says new regulations on the other side of the Georgia Straight have left the capital behind.
“We’re proposing that we need a level playing field between Metro Vancouver and the capital region,” he says.
Isitt says that means adopting controversial taxes like the 15% foreign buyers’ tax imposed last summer, or Vancouver’s solution to empty homes.
“So we’re calling for the province to extend the authority to introduce a vacancy tax to local governments in the capital region.”
Isitt says the motions will go before Victoria council for discussion this week and before the regional board next month.
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He says the area has seen a 50% jump in foreign buyer activity between September and October, climbing from 4% to 6% of transactions.