Vancouver council has approved Canada’s first-ever tax on vacant homes, despite hearing from a raft of people who say it will penalize owners of modest second homes who use their properties regularly instead of pure investors.
The city’s mayor defended the tax as an essential part of the response to the region’s housing crisis. Mayor Gregor Robertson has argued the tax will encourage owners of empty units to rent them out while allowing the city to raise money for new housing through the tax.
“I think the way it is proposed is going to achieve thousands of units in the short term,” said Mr. Robertson, adding that the tax is just one measure needed to tackle Vancouver’s extreme housing crisis.
