Editor:
The Canmore vacancy tax is a risky social experiment that will fail and council should stop it.
Imagine for a moment if the tax were successful and a large portion of the estimated 26 per cent of vacant homes filled up with families. Could the schools, medical clinics, community centres, parking and roads handle this? Wait times at Safeway, the doctor's office, traffic and parking congestion would increase as the vacancy tax revenues dwindle. To pay for all this an even bigger tax would be needed for capital projects and it will have to be paid by residents.
Many of those 26 per cent of homes are furnished and luxurious – they will demand high rents – and few affordable units will become available for rent. The vacancy tax revenue will build only a handful of affordable homes, and much of the funds could be spent on pet projects.
Developers could build fewer homes with this tax, as every additional condition of ownership could make them harder to sell. In the long-term, affordable home inventory could decline and housing costs could increase along with the misery of residents. No one wants this outcome.
Part-time homeowners provide housing stock, pay taxes like residents, spend money in Canmore but leave a light touch on the community. They should be cherished and encouraged as they are in many other places. If Canmore wants to add affordable housing, it should provide non-cash incentives to developers to increase supply and reduce regulations.
Canmore should work with the Alberta government to make it happen. They recognize the unique nature of this town. Stop the vacancy tax.
David Brawner,
Canmore
