2024 R55 – New Assessment Classification for Vacant Residential Lands

Whereas there is a housing crisis in British Columbia that affects all local governments in varying degrees;

And whereas there are limited tools to discourage speculation and encourage development of undeveloped property:

Therefore be it resolved that UBCM request the Province of British Columbia to create a new assessment classification for undeveloped residential properties to allow local governments to establish a different tax rate for vacant residential land.