Looking for tax opinions

Photo: File photo

Doug Findlater

While West Kelowna council has made it clear they're not in favour of a new provincial speculation tax, the city is looking for opinions from the public.

In February's budget, the province announced the implementation of the new tax that will target foreign and domestic speculators in West Kelowna, Kelowna, Metro Vancouver, Fraser Valley, Victoria and Nanaimo.

In the fall, a 2018 tax rate of $5 per $1,000 of a home's assessed value will be added to those who own homes in these areas, but do not live full time in B.C. The rate will increase to $20 per $1,000 of assessed value in 2019.

At Tuesday night's council meeting, West Kelowna mayor Doug Findlater said the new tax would slow down development in the area, and Coun. Rick de Jong said the lack of consultation they received from the province was “disgusting.”

West Kelowna council is looking for opinions on the speculation tax from the public, in advance of a report on it at the March 13 council meeting. Comments received before 9:30 a.m. on March 13 will be included in the report to council.

Comments can be sent to [email protected].