Developers ask for exemption from B.C.'s speculation tax on development land

Metro Vancouver’s development sector is asking the B.C. government for an exemption to the new real estate speculation tax for bare land.
Anne McMullin, CEO of the Urban Development Institute, said an unintended consequence of applying the new tax and additional school levies to bare land being stockpiled for future development is to increase the cost of new housing.
McMullin said the UDI asked government for clarification on its concern last week, but hasn’t had a response.
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