Editor: While the ‘Yes’ side proposes a regressive sales tax in the upcoming transit referendum to fund new public transit projects, I believe there is a better taxation solution to build these projects.
Condo king realtor Bob Rennie once quipped, “Whereas real estate demand is usually about location, location, location, in Vancouver it’s transportation, transportation, transportation.”
In Vancouver, transit has a significant effect on the value of your home. Residences closer to transit routes are in higher demand than those situated away from them, which is why I believe a property tax that takes into consideration the value gained in your home which is dependent on its proximity to transit should be the correct method to fund new projects.
A sales tax will hurt businesses in the region. Consumers will either shop less or simply drive to the United States or Abbotsford. A property tax cannot be avoided. Those who choose to move away from the region in protest of such a tax become one less household in need of transit.
I highly doubt those inclined to vote ‘No’ in the upcoming transit referendum are against expanding public transit, I believe they’re against regressive and faulty forms of taxation.