Vancouver city councillor wants tax ‘loophole’ closed for vacant lots

VANCOUVER (NEWS 1130) – A city councillor wants Vancouver to reconsider a rule which lets developers save hundreds of thousands of dollars in taxes if they reclassify vacant lots as parks and other recreational property.

Pete Fry is putting forward a motion next week that asks staff to investigate whether a change is needed.

“Those taxes are getting paid by other people, and I think in interest of fairness and our responsibility to the people of Vancouver, we need to make sure that that’s highest and best use of those properties,” says Fry. “And we want to make sure that there’s some minimum standards and rules in place.”

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He says a “loophole” currently allows landholders to significantly save in paying taxes, a burden that being transferred to other taxpayers.

“We just want to make sure that these are the best use and that they’re actually being used and that there’s a minimum investment that’s being put in there and that they’re actually serving the people.”