Vacancytax proposedfor commercial properties

TheresaMcManus

tmcmanus@newwestrecord ca

NewWestminster city council believes a vacant property tax on commercial properties could help local business districts

Council unanimously approved a motion submitted by Coun Ruby Campbell which will go to the Lower Mainland Local Government Association for its consideration at the Union of B C Municipalities meeting The motion asks the provincial government to provide municipalities with an option to introduce a vacant property tax that would be applicable to commercial properties

The motion states that the province has adopted a vacancy tax on vacant residential properties as one tool to assure land speculation does not result in property standing fallow to the detriment of community livability and other goals It also says commercial property values are inflating provincewide, and increasingly facing investment speculation that results in similar underutilization of commercial properties in many B C municipalities

Mayor Patrick Johnstone is looking forward to debating the motion at the Lower Mainland Local Government Association

Two NewWestminster Chamber of Commerce representatives attended the Feb 27 council meeting to voice their support of the motion

AngieWhitfield, executive director, said the NewWestminster Chamber of Commerce supports the implementation of a vacant property tax on commercial properties.

“It’s no doubt that the derelict buildings in our commercial districts are not helping create a healthy environment for the businesses in those spaces,” she said