Our federal government has tried to implement a foreign real estate buying tax, but this policy is not effective enough. An additional yearly municipal tax would have a more significant effect than that one-time tax.
With the new municipal tax increase, the municipality needs more revenue. For example, in the U.K., second homes are charged a higher rate of council (local government) tax. In some areas, particularly where there are many second holidays, there is 100 per cent more in annual property tax.
The end of our partnership with the U.S. presents an opportunity for Canadians to grow stronger and rethink our policy on U.S. citizens in Canada. At the same time, Canadian taxpayers are responsible for funding the public services that U.S. citizens use while living in Canada, all while competing in a free market that incentivizes American buyers.
Whistler’s housing market, which has prioritized the highest bid, has transformed some neighbourhoods into empty streets filled with non-Canadian-owned houses. We chose to embrace American capitalism, resulting in an economy that doesn’t help our small businesses or support Canadians in raising their families.
As a Canadian citizen, I want to see municipal policies that prioritize our local economy. Over the years, I’ve observed that U.S. citizens and non-Canadians are moving to Canada, whether permanent residents or not, living here for entire seasons, and using our roads, infrastructure, and public services without contributing.
Let’s impose an additional 20 per cent on the yearly municipal property tax for all non-Canadian Whistlerites whose real estate is a secondary home to offset this “free ride.”
The Resort Municipality of Whistler can use this additional revenue to reinvest in our roads, schools, and health-care system.
We are responsible for thinking about the housing market for the next generation. With this additional 20-per-cent municipal property tax for non-Canadians, we can make a difference.
This tax would disincentivize Americans and non-Canadians from owning homes that Canadians could live in.
Our political position with foreign partners has changed, and now we must do what is best for our nation.
