Funds raised are returned to the areas where the tax applies, ministry saysThe Canadian Press
British Columbia is expanding the tax it created to clamp down on real estate speculation and ensure homes in rental-strapped communities don't sit empty.
A statement from the Ministry of Finance says the Speculation and Vacancy Tax now includes the municipalities of North Cowichan, Duncan, Ladysmith, Lake Cowichan, Lions Bay and Squamish.
Starting early next year, homeowners in those areas will join owners in 40 other B.C. cities, districts and towns who are required to declare how their propert…
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