The B.C. government will consider proposals to impose higher property taxes on investors who buy agricultural land then reap huge tax benefits intended for farmers, not wealthy speculators.
This comes in response to a Globe and Mail investigation that found new foreign and local buyers building mansions or applying to redevelop farmland around Vancouver, while enjoying extremely low property taxes meant to encourage farming.
A new report by Metro Vancouver is urging governments to eliminate those breaks for any owners who do not use their property to grow crops or produce livestock. The province said it is now looking into that.
Hume, Mark, and Kathy Tomlinson – The Globe and Mail. Accessed December 1, 2016.
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