VANCOUVER, B.C.: The Canadian Taxpayers Federation is calling on the Capital Regional District to scrap plans to add thousands of dollars of extra taxes to new homes in the capital region to pay for the Regional Water Supply Master Plan. 

“The CRD is planning to make homes in Victoria thousands of dollars more expensive by hiking development taxes,” said Carson Binda, B.C. Director for the Canadian Taxpayers Federation. “Instead of making homes more unaffordable with slapping on extra development taxes, the regional district needs to find savings elsewhere if it chooses to move ahead with its water supply plan.” 

The CRD will debate the $2-billion Regional Water Supply Master Plan on Wednesday. If the regional district moves forward, it would increase the cost of new homes in the region by: $9,044 for detached houses, $7,914 for townhomes and $5,087 for apartments, according to industry experts. 

“Homes in Victoria are the second most expensive in the country and increasing development taxes just moves the dream of home-ownership further away for families already struggling to put a roof over their heads,” Binda said. “Development taxes are passed down to folks looking to enter the housing market, making it more expensive for families to get a home of their own.” 

Operational spending by the CRD has ballooned by more than 43 per cent in the past five years, from $244 million in 2020 to $350 million this year. 

“When operational spending by the CRD has grown that quickly, it’s clear the CRD politicians have a serious spending problem,” Binda said. “Instead of selling out young families looking to own their first home, the CRD needs to sort out its spending problem.” 

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