As Richmond City Council lobs a referral at city staff to “investigate” the merits and possibilities of a vacant homeowners tax, an online poll released this week by market research firm Insights West found that roughly three in four British Columbians support such a tax on people who acquire properties, but don’t live in them.
The poll surveyed 825 people and also found 70 per cent of them believed foreign buyers boost property values.
“Still, many residents are voicing dissatisfaction with the fact that these empty homes are having a negative impact on their community,” said pollster Mario Canseco.
The poll found 21 per cent of those asked believe the debate on foreign real estate ownership is inherently racist (and 35 per cent amongst East Asians polled).
The poll did not address other measures to curb foreign speculation, such as limiting foreign property ownership to one property and/or to new housing stock only.
Coun. Bill McNulty said the provincial and federal governments need to collect data on the matter to determine what the scope of the issue is.
He questioned how effective a tax would be, at any rate.
“I’m not sure it will work. The people who can afford these homes, they’ll pay it. …And the house still remains vacant,” he said.
Staff findings of council’s referral should determine the powers available to the municipality and may reveal methods to prevent vacant homes.
“If someone comes in with the intent of building (or buying) a home and leaving, then we need to address that,” said McNulty.
He said he was concerned how governments could differentiate between absentee owners and Canadian snowbirds.
Coun. Carol Day’s suggestion that the vacancy tax be applied to homes that remain empty for more than six months could address that issue.
Day is the only elected councillor to suggest such a tax in the lead up to the 2014 election.
Day also wants city staff to investigate the possibilities of a foreign ownership tax and to determine if the city should be lobbying higher levels of government to implement it.
