Kelowna Real Estate Market News

BC Speculation Tax - Do you think it should be scrapped?

While we understand that there is a problem with Affordable Housing in Kelowna and the Central Okanagan Valley and that more should be done to help those affected, a growing number of you are very concerned about the possible consequences of the proposed Speculation Tax by the BC Government.


To give ourselves any chance of being heard it is important that we pool our resources and have 'one voice'.


On April 23, 2018, the Okanagan Mainline Real Estate Board (OMREB) joined a coalition of 15 other BC agencies in a campaign to scrap the speculation tax.


As you may not be sure how to support OMREB’s advocacy on the subject of the proposed speculation tax, you can do so by visiting where you can learn more and send a letter to the BC government to register concerns about the proposed speculation tax.


As of Friday, May 11, the campaign has facilitated:

  • 16,561 letters to the government, an increase of over 2000 letters to the government since the previous week.

  • The highest numbers of members of the public who’ve registered their opposition to the speculation tax with government come from the Okanagan, including West Kelowna, Kelowna, Lake Country and others.

To date, the coalition includes the following:

  • UDI Capital Region, Pacific Region and Okanagan

  • Kelowna Chamber of Commerce

  • Independent Contractors of British Columbia

  • Canadian Home Builders Association – Central Okanagan

  • Nanaimo Chamber of Commerce

  • Peachland Chamber of Commerce

  • Stop the Speculation Tax Petition

  • Business Council of British Columbia

  • Canadian Taxpayers Federation

  • Vancouver Island Construction Association

  • Okanagan Mainline Real Estate Board

  • Downtown Victoria Business Association

  • Uptown Rutland Business Association

  • Victoria Real Estate Board

  • Canadian Mortgage Brokers Association – British Columbia 

Kind Regards
Trish Cenci
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