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The speculation tax as proposed by the government applies to property owners who don’t live in a property or rent it out long term.

It would see property owners, starting next year, taxed 0.5 per cent of assessed value for 2018, increasing to two per cent of assessed value in 2019 for foreign investors and satellite families, one per cent for Canadian citizens and permanent residents who don’t live in B.C. and 0.5 per cent for B.C. residents who are citizens or permanent residents.

The areas affected are Metro Vancouver, Fraser Valley and Capital and Nanaimo regional districts, with some exemptions, along with the municipalities of Kelowna and West Kelowna.

Kelowna Mayor Colin Basran said the tax the province is proposing is unfair, that it will divide communities into winners and losers and lead to inequality. He said it doesn’t really address the lack of affordability and was introduced without consultation.

“This proposed tax will not have the desired outcome, and will have negative impacts on our communities,” said Basran.

Basran and other mayors will send an open letter to the province to restate their concerns.

James said mayors and councillors have been raising the same concerns with her for months, and although she said she has been listening to them, the tax structure will not change.