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Kamloops council concerned about lost tax revenue on BC Housing projects (iNFO News)


As BC Housing buys up more properties in Kamloops, some councillors have grown concerned about the lost tax revenue.

Just how they plan to tackle the issue isn't clear yet, but they've identified the problem: more supportive housing means less property taxes in city coffers ... "We get all excited when we cut the ribbon on a new hotel or new commercial property, but in the same breath they're getting taken off the market. We're not really adding anything to our tax base as we're trying to grow it" ...

Across the province, former motels and new builds dedicated to supportive housing can't be taxed by the municipal government, even if they charge rent ...

CLICK HERE for the full story

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