What about Richmond's Farmlands?

So B.C. will now have a speculation tax, which will be 2% annually of a homes value for those who don't pay taxes but own a property, and an increase in the foreign buyers tax to 20%.

But the foreign buyers tax will still not apply to farmland, despite the government committing to examining taxes on the Agricultureal Land Reserve.

In fact, the increase in the foreign buyers tax on residential properties will likely incentivize farmland even more.

With somewhat lax rules on the size of a home you can build in Richmond's ALR, and the fact these these properties will remain exempt from the foreign buyers tax, you can only wonder how the landscape of Richmond's farmland will change.

The few gigantic homes that we now see on these lands might be nothing compared to what the future might hold.  Once again can you hear the uproar?  And as usual, only after the damage has been done!

Image result for photo of a huge home on richmond bc alr



Comments:

No comments

Post Your Comment:

Your email will not be published
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.