B.C. Premier John Horgan met with the mayors of Kelowna and West Kelowna on Monday to discuss the proposed speculation tax. Photo: Contributed

NDP seem set on speculation tax

Kelowna and West Kelowna mayors pitch premier on tax exclusion

Premier John Horgan dampened the hope that his NDP government will exclude Kelowna and West Kelowna from the highly contentious speculation tax on real estate.

Kelowna Mayor Colin Basran and West Kelowna Mayor Doug Findlater met with Horgan on Monday morning, and Basran said he came away feeling the premier was “pretty locked in” on the speculation tax.

“I’m not feeling overly optimistic at this point but we’ll have to wait and see. I am not giving up on this yet,” Basran said.

“There is still time as the legislation for the tax is likely to be introduced in September or October.”

Related: Mayors to talk speculation tax with premier

Basran said Horgan indicated he would pass their concerns on to Finance Minister Carole James for her further consideration.

Basran said he made the arguments about the Kelowna rental housing construction boom, with some 3,000 units already either under construction or the planning stage, which he feels negates the need for the tax, and how other incentives could be offered to encourage more affordable housing development.

Related: West Kelowna mayor blasts premier over speculation tax

Basran said he is worried about how the speculation tax will impact the housing market, a strong economic indicator for both West Kelowna and Kelowna, and leave potential tourists from outside the province who either own or are thinking about buying property here feeling not welcome and choose to spend their tourism dollars elsewhere.

“I think there is a way to deal with people who flip houses for profit, mechanisms for adding a tax on the profits, but the premier didn’t seen to have an appetite to go there,” Basran said.

To report a typo, email: edit@kelownacapnews.com.


@BarryGerding
barry.gerding@blackpress.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Traffic will be backed up leaving Kelowna

Plan your commute home strategically

Grass fire sparks near Kelowna’s UBCO campus

Construction workers in the area helped extinguish small fire, likely caused by lightning

Water quality advisory in Kelowna lifted

After a month of warnings, officials say testing shows water quality is good again

Progress made on Kelowna Visitor Centre

The centre is set to open mid summer

Kelowna names new city manger

City goes in-house and picks planning boss Doug Gilchrist to replacement Ron Mattiussi

Humans locked in for love at Kelowna Shelter

BC SPCA Lock-In for Love hopes to raise $25,000

Fireworks and fires over a half-metre banned Friday in Kamloops centre

B.C. Wildfire Service banning to category 2 and 3 fires in Kamloops Fire Centre at noon Friday

Rescued Oregon family simply unprepared for adventure, RCMP say

Agencies now helping the group of four get to their destination in Alaska

Large B.C. tree dies after possible poisoning

Police and District investigate after large chestnut tree’s rapid decline

Canucks release 2018-19 season schedule

Vancouver to face Calgary Flames on Wednesday, Oct. 3, for home opener

VIDEO: Luxury Home and Design Show opens with Italian flare

Event set to run Friday to Sunday at BC Place in Vancouver

Small new charge on BC Hydro bills goes toward new crisis fund

The new fund aims to help customers who find themselves in financial emergencies

UPDATED: Crown appeals B.C. polygamous leader’s acquittal in child bride case

James Oler had been charged with taking his underage daughter to the U.S. to marry her off

Fake cops ‘arrest’ woman, steal $6,000 in latest CRA scam

Vancouver police urge people not take calls from anyone saying they’re from the Canada Revenue Agency

Most Read