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Eby said there were two groups of people he had hoped would show up Tuesday — those who had bought homes with no intention of selling and who had never asked for their huge appreciations, and those having a hard time finding housing and who are happy to see initiatives funded in part by the tax.

“The two groups, I thought, would benefit from hearing each other,” he said, adding that he did think there were legitimate concerns about the tax and important questions to be asked.

Despite the cancellation, the rally went ahead at a new venue. A large crowd gathered at Trimble Park, with children and pets in attendance, as well as local politicians, including Vancouver mayoral hopefuls Wai Young and Glen Chernen.

Many in the crowd said they weren’t motivated by any political leanings — some even said they had voted NDP — but attended to speak out against what they believe is a “cash grab” that unfairly penalizes seniors and longtime residents who have seen the value of their properties increase exponentially on paper.

“A tax on assets is unconscionable and potentially a very slippery slope,” said Brent James, who bought his home about 10 years ago. “Tax me when I sell something. Don’t tax me because I own something.”

Organizer Tamara Knott of Concerned Citizens of Vancouver said she was able to afford a home in the area with help from family. The new tax will be “devastating.”

“We struggle to pay the current property taxes as they are, but now we have to pay double, said Knott, calling the tax an “eviction notice” for her and many neighbours in the same boat.

“This tax is going to force us out of our homes as surely as we have been marched out the door.”

There were nearly 43,000 residential properties assessed at more than $3 million in the province as of March, according to the Ministry of Finance. Nearly 85 per cent of those are located in Metro Vancouver.

Looking strictly at single, detached homes, roughly 65 per cent of those assessed at more than $4 million are in Vancouver, according to data prepared by analytics company Landcor Data Corp. Another 24 per cent are in West Vancouver, and three per cent are in the University Endowment Lands.

The increased school tax will apply to about two per cent of all homes in B.C., and should raise $50 million in 2018/19 and $200 million in 2019/20 and 2020/21, according to the finance ministry. Some homes are exempt from school tax.

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