Vancouver’s vacant property tax enrages Chinese speculators

Vancouver’s speculation and vacancy tax is proving hugely successful, raising $115 million and exceeding the target set out in last year’s budget, and more than 2,500 homes found to be vacant:

To date, the province has collected $115 million from property owners in major urban centres deemed to be extremely unaffordable and subject to land speculation.

The money has been collected over five fiscal quarters, meaning the annual average is $92 million.

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