Whereas the Government of British Columbia Speculation and Vacancy Tax SVT has proven effective in turning vacant homes into housing for people in British Columbia and ensuring that foreign owners, and those with primarily foreign income, contribute fairly to BCs tax system, so much so that the province has continued to expand the original Speculation and Vacancy Tax program to encompass more municipalities; And whereas the current Speculation and Vacancy Tax structure only applies to select municipalities, pushing the problems caused by speculation and properties left vacant into areas not covered by the SVT: Therefore be it resolved that UBCM advocate to the provincial government to expand the Speculation and Vacancy Tax program to the entire province of BC, allowing all municipalities and regional district electoral areas to opt in.
