[ttul]

A better variant was proposed by an economist at UBC (Tom Davidoff). There would be a high property tax on ALL properties, which you could reduce by the amount of income tax you actually pay in the province.

Whether the property is vacant or not, the tax must be paid. But if you actually pay taxes for working here, it’s cool.

[dredmorbius]

Is this a good description of it?

https://www.vancourier.com/real-estate/ubc-professor-propose...

(And if not, could you post a better link?)

[internet_user]

Wouldn't it have to be huge to make a difference?

A large investment property would probably cost several tens of thousands of dollars in property tax per year? Not many residents probably pay that much income tax, what do you do with those?

[ttul]

Residents pay local income tax and thus aren’t subject to the high property tax. This tax targets offshore residents, shell companies, etc.

[eps]

What would prevent Chinese investors from temporarily assigning their Vancouver portfolio to some local proxies?

[refurb]

Hmmm....

So the wealthier you are, the more income tax you pay, so the lower your property taxes are?

So this would benefit the wealthiest?

[ttul]

I didn’t capture Davidoff’s proposal accurately. There is a basic property tax that everyone pays. An additional tax is the one that you can write down to zero by earning income.