Affordable housing is undoubtedly a big issue but imposing a new tax on every household in the region to pay for projects might not be the best way to go, says Mayor Lois Jackson.
Last summer the Metro Vancouver board voted down a recommendation by district staff to raise $1 million through a new household tax for the Metro Vancouver Housing Corporation, which owns and operates 49 housing sites that provide 3,400 units of affordable rental housing for low to moderate income households across the region.
The board was asked to consider a new regional tax, which reportedly would have worked out to just $1 per household, to help fund the redevelopment of two existing low-income rental complexes along with initiatives to develop affordable housing on vacant Metro Vancouver land and potentially other sites.
A regional staff report notes that in order to increase the region’s housing stock through either development or redevelopment, an alternative source of funding is needed.
“While financial support will continue to be sought from both the provincial and federal governments, it is likely that any financial support received would be under a partnership arrangement, with required capital contributions from both the other level of government and MVHC,” the report states.
Jackson said she’s not sure imposing a household tax, which could become an ongoing item on the regional portion of the property tax bill, is the right move, noting the federal and provincial governments don’t seem to have as many incentives for developers to fulfill current needs.
“I’m not sure tax at the local level is the answer. I think it’s a bigger overall problem that the province and federal government will have to look at, either in terms of rental subsidies or tax breaks for those who are building rental housing,” she said.
“I’m just not so sure it should be local tax dollars. We contribute federally and provincially in our tax dollars and they have to come up with something better.”
