The Editor,
Once again, Premier Christy Clarkâs BC Liberal government has managed to create a divisive policy rooted in unfairness.
Those who buy a brand new home worth up to $750,000 will pay no property transfer tax, yet those who buy existing housing stock will get no such break. (If they are first-time home buyers, the current $475,000 limit will still apply.)
This policy will benefit developers and builders and those who purchase brand new homes while ultimately penalizing buyers and sellers of previously owned homes.
As I drive through downtown Port Coquitlam and see the huge numbers of new condos, I feel sorry for those owners of existing condos who may wish to sell in the future. They should be hopping mad as they may now need to lower their selling price to counterbalance the advantage given to sellers of new housing.
The government should extend the $750,000 property purchase tax exemption to all buyers, regardless of the age of the home they wish to purchase.
J. Wiltshire, Port Coquitlam
