Saturday, October 1, 2022
Hawai'i Free Press

Current Articles | Archives

Saturday, June 15, 2019
Debunked: Caldwell’s ‘Vancouver Tax’ Does Nothing to Ease Rental Crisis
By Andrew Walden @ 4:07 AM :: 5316 Views :: Honolulu County, Development, Taxes

by Andrew Walden

In his May 30, 2019, ‘State of the City’ speech, Honolulu Mayor Kirk Caldwell claimed to have a sure-fire way to create more affordable housing—raise property taxes on so-called ‘vacant’ homes.

Pointing to a 1% ‘empty homes’ property tax imposed in Vancouver, Canada, Caldwell’s claims are being echoed in the local media:

We at Hawai’i Free Press very quickly and easily found Canadian news outlets reporting the story that isn’t being told in Hawai’i.  Here are two typical examples:

Vancouver Empty homes tax not helping rental crisis

CBC November 29, 2018:  …in its first year of implementation, the tax appears to be doing little to achieve its stated goal, while putting millions more dollars than expected into City of Vancouver coffers.

Numbers from the Canada Mortgage and Housing Corporation show a mere 0.1 per cent increase in the city's primary market vacancy rate in 2017 — rising from 0.8 per cent to 0.9 per cent.

That's less than the 0.2 per cent increase in the vacancy rate across the rest of the Lower Mainland region, where there is no empty homes tax. 

Meanwhile, revenue from the tax is expected to generate $38 million for the city in its first year of implementation, $8 million more than was originally projected. …

Revenue from the empty homes tax has been earmarked for affordable housing initiatives. So far, $7.5 million has been spent to cover the implementation of the tax and another $2.5 million in 2018 administration costs.  

City council has so far allocated $8 million to various projects….

read … What Caldwell doesn’t want you to know

  *   *   *   *   *

Vancouver councillors support empty-homes tax despite dubious results

Globe and Mail, Feb 28, 2019

Vancouver’s precedent-setting empty-homes tax resulted in only 117 homes being converted to rented from vacant in the second year of its operation, according to a staff report.

And the agency that tracks Canada’s housing statistics noted that almost 1,100 homes were removed altogether from the rental market in the first year of the city’s empty-homes tax (EHT).

That means the proportion of Vancouver homes rented out fell to 24.5 per cent in 2018, compared to almost 26 per cent in 2017, said Canada Mortgage and Housing Corp. analyst Eric Bond.

In spite of those dubious results, Vancouver councillors are not only supporting the tax for future years, but have approved tightening up the regulations to prevent some owners from avoiding it through loopholes in the current law….

However, staff and some councillors are wary of the mayor’s suggestion that the tax should be tripled from its current level of 1 per cent of assessed value in order to push even more owners of empty properties into renting or selling….

read … More Real News

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

ACA Signups Hawaii

Alliance Defending Freedom

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Back da Blue Hawaii

Ballotpedia Hawaii

Better Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

ChinaTownWatch.com

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Life Alliance

Hawaii March for Life 

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Save Dillingham Airfield

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT