BURNABY, B.C. — Vancouver-area politicians in a region hit hard by sky-rocketing property prices are urging their provincial counterparts to commit to changing the tax system during the election campaign.
The recommendation comes after the regional district of Metro Vancouver commissioned a report that says area homeowners pay a disproportionate share of property taxes compared with the rest of B.C.
The district is calling on candidates in the May 9 election to commit to changing taxes tied to property values, including the provincial home owner grant, property transfer tax and school property tax.
Board chair Greg Moore says in a statement that the taxation system is "antiquated" and leaves residents of the region paying more than their fair share.
Property assessments went up by 50 per cent for some homeowners in the Lower Mainland this year, but the regional district says the assessments are not reflective of a homeowners' ability to pay.
The district says it wants to see candidates agree to change the tax system by increasing the threshold for the homeowner grant within Metro Vancouver, calculating the school property tax for what is spent in the local region and allowing the unused portion of the property transfer tax to go to local government infrastructure.
