I can't be the only one that thinks, "what in the world do these people do for a living that they can afford these home prices?". Throw in the fact that I see a lot of new cars in the driveways of these homes and I come to the conclusion that I've clearly failed in life.
Imagine waking up everyday and stepping outside only to be surrounded by a million acres of some of the most beautiful scenery in the world? What would something like that cost? Could you even put a price on it?
The way that Empty Home Tax works is that there is a taxed percentage based on the value of the property. If that property is vacant for six months or more a year, the tax kicks in. In Vancouver, It started out at 1%, then moved to 1.25%. It's now at 3% for 2021.