Editor: While the 鈥榊es鈥� 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, 鈥淲hereas real estate demand is usually about location, location, location, in Vancouver it鈥檚 transportation, transportation, transportation.鈥�
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 鈥楴o鈥� in the upcoming transit referendum are against expanding public transit, I believe they鈥檙e against regressive and faulty forms of taxation.
Peter Lenko,
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