Seniors with unrentable homes near Vancouver face huge speculation tax bills

Seniors who own rustic cabins that are in no shape to be on the rental market say they face thousands of dollars in speculation taxes because their properties fall within the Vancouver-area boundary where the levy applies.

Retired music teacher Charline Robson said she lives in a basement suite in Burnaby but now faces a $6,000 speculation tax bill this year because the cabin she inherited is empty much of the year and not up for rent.Robson, who said she already pays annual property taxes for the cabin of about $12,000, says the property is not insulated and does not have running water, sewer or street service.

Robson, who has children and grandchildren, said the family uses the cabin as a summer vacation getaway.The New Democrat government introduced the speculation and vacancy tax to reduce the number of empty homes in most B.C. urban areas in an effort to ease the province’s housing crisis. The tax rate varies depending on the citizenship and residency status of the owners.The tax rate for 2018 is 0.5 per cent of a property’s assessed value for all properties subject to the tax.

“These people are seniors who have cabins that cannot be rented out and the NDP have classified them as speculators,” he said.

GlobeBC Not good to see anyone fall through the cracks but land worth $1.3 million and wasted. One of the points of the tax is to limit that. And they can defer taxes until sold.

GlobeBC Why is NDP screwing these seniors? bcndp

GlobeBC Hoarders Canadian style

GlobeBC Of course how else to you force people out and take away there property... just make it to expensive to hold onto event over tax and let the developers at them for big profits...

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