On April 29, three Non-Partisan Association councillors on Vancouver council, including Lisa Dominato, and three Green councillors voted to increase property taxes on homeowners for a third consecu…
On April 29, three Non-Partisan Association councillors on Vancouver council, including Lisa Dominato, and three Green councillors voted to increase property taxes on homeowners for a third consecutive year.
The “community gardens” scheme was initially proposed in 2008 by then-NPA councilor Peter Ladner. There were fears the real-estate meltdown in the U.S. might hit Vancouver’s market. If that were to pass, wealthy property owners and developers — you know, risk-taking speculators — could require property tax abatements to cushion their financial losses from market forces.
“Plans” require details of timing and resource allocation to achieve objectives over time. Thirty-day notice clauses in agreements requiring gardens to be removed from a developer’s private property render such justifications for this program a fiction. “Community gardens” actually incentivize and subsidize wealthy developers to keep their lands fallow until it suits them. When developers restrict the supply of their land, they drive up prices. That’s Economics 101. Remember, these are the same people who told us that Vancouver’s affordability crisis was largely due to a short supply of land available for development.
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