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Letters  

Where is tax money going?

There has been so much talk around the homelessness and affordable housing in the past couple of years that I find it baffling that it cannot be resolved.

I for one would like to know where the billions of dollars from the property transfer tax is going. With the increase in home values and the number of times a house is sold, this adds up to billions of tax money. Where is this going?

We as consumers just pay it without question, but we should be questioning this. The tax payable is 1% of the first $200,000, then 2% up to $2,000,000.,Then 3% for amounts above that. 

The hotel tax in BC is a higher tax than normal, but the additional tax goes into tourism, which makes sense. Why not do the same for the property transfer tax and allocate a portion of this to building affordable housing to help people find a reasonable and comfortable place to live.

Terry Sullivan



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