The Globe and Mail
Cities outside the Lower Mainland are bracing for the potential ripple effect of the provincial government’s surprise tax on foreign buyers, which will add 15 per cent to the cost of homes sold to people from outside the country – but only in Metro Vancouver. …
In Richmond, Mayor Malcolm Brodie has people studying whether it will impact homes built on agricultural land, which accounts for 40 per cent of Richmond.
It turns out, if the land is being used for farming, the added tax will apply only to the house. If the land isn’t being farmed, the 15-per-cent tax will be applied to the entire value of the property.
But for Mr. Brodie and other mayors, a major concern is what help the province is going to give municipalities struggling with a gamut of housing problems. …