Speculators Buying B.C. Farmland While Exploiting Tax Breaks

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Investors and speculators are taking prime agricultural land out of production – and sometimes erecting palatial mega-mansions on the landscape – as the B.C. government’s outdated tax system allows them to exploit incentives intended only for those who farm.

Kathy Tomlinson reports Bob Fisher shakes his head as he looks over at the palatial new building next door to his beekeeping operation. It was supposed to be a single-family farmhouse – approved as such by city hall – built on some of Canada’s best farmland, in this suburb south of Vancouver.

Instead, it’s a 23,000-square-foot mega-mansion – with Roman columns, a grand marble entrance and luxurious guest suites. It sits empty, on what used to be a blueberry farm, partially hidden by a hedge, waiting to receive guests.

Read full article here.

Kathy Tomlinson – The Globe and Mail, November 18, 2016.

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