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West Kelowna  

Railing against spec tax

West Kelowna wants out of the provincial government’s planned speculation tax.

City council agreed Tuesday to petition Minister of Finance Carol James to leave the city out of her government’s planned tax on out-of-province homeowners.

The decision came after both city staff and representatives from the Urban Development Institute spoke to council about the impacts the tax could have on the city.

West Kelowna CAO Jim Zaffino pointed out that the city relies heavily on the development cost charges to pay for city infrastructure projects. If those developments dry up because of the tax (Which UDI's Kevin Edgecombe said will happen), West Kelowna taxpayers are likely looking at tax hikes of five per cent or more a year.

West Kelowna has also received close to 250 letters from people weighing in on the proposed tax. For more on why only 7 per cent of them support the tax, check out the full story on Castanet's sister business news website, Okanagan Edge.



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