Empty home tax: 2 weeks until decision date

B.C. Finance Minister Mike de Jong says he is working with Vancouver Mayor Gregor Robertson to come to a decision about the proposed tax on empty homes within the next two weeks.

"Right now, the good news is that the two jurisdictions are working together," said de Jong during an interview on CBC Radio's The Early Edition.

However, he quickly clarified that despite working together, the relationship between the two leaders isn't exactly ideal.

Robertson has said in the past he would be moving forward with the tax with or without the province's support.

"I know the mayor said he was resolved to proceed and I respect that but ... this can probably be done more effectively if there was genuine cooperation between the province and the city," said de Jong.

Increasing supply

He and Robertson met on Monday at Premier Christy Clark's office in Vancouver to discuss the proposed tax.

Robertson has argued his tax would potentially free up more homes for the city's tight rental market, which currently has a vacancy rate of 0.6 per cent, by creating a financial incentive for home owners to rent out their empty property.

The minister emphasised he believes Metro Vancouver's housing affordability issue could only be tempered with an increase in the number of available homes.

He implored the city to work with his government to address the issue.

"Yes, there's a big role for municipalities and cities, and it's not just a Vancouver issue," he said. "We've got to do a better job approving the applications for new housing that are out there — got to get on with that."

Ultimately, he said the 'biggest way' to address housing affordability was to further the supply side of the equation, whether it be in the form of more condominiums, townhouses or detached homes.