A B.C. surtax on properties worth more than $3 million has owners hopping mad, and tinkering with it won’t appease them
Owners of multi-million dollar homes are probably not going to endear themselves to the public by pleading financial hardship. Nevertheless, more than 100 Vancouver residents gathered in a park last week to protest a surtax introduced by the provincial NDP government on homes worth more than $3 million. They wielded signs claiming the government “wants to confiscate your hard-earned home savings!” The tax, they said, is “unfair,” “exorbitant” and “predatory.”
The academic who first raised the proposal is not swayed by the blowback. “A lot of these claims just stretch credulity,” says Rhys Kesselman, a professor in the School of Public Policy at Simon Fraser University. But he does think the government should rethink at least one aspect of the controversial levy.
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