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Monday, September 19, 2016 by Randolf Richardson 張文道
Throughout September 2016 the Vancouver City Council announced its intention to impose regluations on property owners who are not renting their "empty" (uninhabited) homes. Some of the solutions they're considering, which I've heard talked about on local radio stations, involve high-maintenance options like monitoring usage and issuing penalties against non-compliant property owners, which I worry could be a violation of civil liberties since compulsion is a form of oppression that is contrary to Canadian national values (as per our Charter of Rights and Freedoms).
I believe there is a better approach that is more fair (because it doesn't impose on freedoms) and carries a lower administrative burden. I also believe that my solution could be particularly beneficial if implemented at the Provincial or National level, and it is as follows...
Empty homes in British Columbia, Canada
This is my suggestion for solving the empty homes controversy in British Columbia’s home rentals market, which is consistent with my belief that any laws and regulations addressing this matter must:
With these three ideals in mind, my suggestion is to divide the residential property tax into three types, and rely on an optional incentive - not mandatory compulsion - to encourage participation by property owners to rent their otherwise-empty homes to people.
TAXATION POLICY UPDATE
Update the property tax system for residential properties by dividing the tax into three classes, which I refer to as types A, B, and C...
TYPE A: PRIMARY RESIDENCE
Same as the existing residential property tax rate. This is intentionally so to ensure transitional simplicity for the majority of people who own only one property that is their primary residence.
TYPE B: INVESTMENT RESIDENCE WITHOUT RENTAL
Higher property tax rate than the Type A rate because this property does not qualify as a primary residence. It shall, by default, be classified as an investment property that has not been rented to any tenants.
TYPE C: INVESTMENT RESIDENCE WITH RENTAL
Initially the same as Type B except that the property tax rate is reduced (discounted) because rental is calculated based on a combination of two factors: the total days during the taxation period in which the property was rented, and the area percentage of the property that was rented.
If you'd like to contact me to share your perspective, I'd be delighted regardless of whether you agree with me. My contact information is available on my contact page.
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