Despite a meeting with B.C. Finance Minister Carole James last week, West Kelowna Mayor Gord Milsom said he doesnsa国际传媒檛 expect much to change regarding the speculation and vacancy tax in the city.

Since the taxsa国际传媒檚 implementation in early 2018, the mayor has been vocal about his opposition to it. While meant to target vacant properties and properties owned by real estate speculators, Milsom said that neither are prevalent issues in West Kelowna.

sa国际传媒淚 donsa国际传媒檛 think they really did their due diligence,sa国际传媒� he said. sa国际传媒淲e knew, by individuals filing their property taxes, as to whether or not they were foreign owners. We realized very quickly that this tax would impact mainly Canadians.sa国际传媒�

The mayor said there has been little explanation as to why West Kelowna was included in the tax in the first place.

sa国际传媒淭hey never really gave us any details as to why,sa国际传媒� he said. sa国际传媒淭hey just added us in.sa国际传媒�

Milsom said in West Kelowna the tax is mainly taking its toll on B.C. residents, those with summer homes and the job market.

sa国际传媒淚sa国际传媒檓 not surprised by the numbers,sa国际传媒� he said, citing that about two-thirds of those who pay the tax province-wide are foreign owners or satellite families.

sa国际传媒淏ut in West Kelownasa国际传媒檚 situation, thatsa国际传媒檚 not the case. We have very few foreign owners and very few satellite families.sa国际传媒�

He cited a Canadian Home Builders of the Central Okanagan report which said a 17 per cent reduction in jobs related to residential construction in West Kelowna came at the hands of the speculation tax.

As the tax is mainly affecting sa国际传媒済ood West Kelowna citizens,sa国际传媒� Milsom joined several other mayors in asking James to implement an opt-in/opt-out system.

sa国际传媒淚 donsa国际传媒檛 think itsa国际传媒檚 fair to tax Canadians in that way,sa国际传媒� he said.

Several mayors at the meeting were supportive of the tax, coming mostly from the larger cities, including Vancouver and Victoria.

sa国际传媒淢any homes are unaffordable in those areas,sa国际传媒� Milsom said. sa国际传媒淭he spec tax fit with other programs that help to reduce home costs in those areas.sa国际传媒�

Milsom said James is taking the feedback from all of the mayors present at the meeting into consideration but is unsure if any changes will be made. She said if any changes need to be made, they would be done before the end of the year.

sa国际传媒淲hat does that mean? When are we going to hear from her?sa国际传媒� he said.

sa国际传媒淚tsa国际传媒檚 hard to say what shesa国际传媒檚 going to come back with.sa国际传媒�

According to the Ministry of Finance, revenue from the tax totalled $115 million for the 2018-19 fiscal year and just over $1 million came from West Kelowna.

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READ MORE: sa国际传媒業t hasnsa国际传媒檛 gone wellsa国际传媒�: Kelowna Mayor on speculation tax

michael.rodriguez@kelownacapnews.com
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