Tax wealthy homeowners to fund affordable housing, says new B.C. proposal

The B.C. government could raise billions of dollars annually for public housing projects, with modest increases to taxes on the highest-valued residential properties, says economist

To improve affordable housing, a B.C. economist says the province needs a more progressive property tax system — one that raises levies on high-value properties and people who own multiple homes.

Such a policy, says Alex Hemingway, will raise billions of dollars for public housing projects while simultaneously dampening home price growth over the long term.

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