Dear Editor
Congratulations to the residents of Brentwood, Burnaby, B.C. Your 2016 property assessment averages well beyond 30 per cent, which, I understand, makes Brentwood the highest assessed area in the province of B.C. in 2016.
Special thanks must be given, in particular, to the wealthy, offshore buyers who continue to outbid one another, thereby exceeding the asking price, for the chance of securing residential property in B.C.
With the depreciation of the Canadian dollar, one can expect to see a worldwide demand for residential property across Canada, particularly British Columbia.
Unless the respective levels of government take action to protect Canadian citizens – that is, those ‘citizens’ who reside and pay their full share of taxes here in Canada – property assessments will continue to rise dramatically; not to mention the demands made upon our hospitals, schools and social services.
The concept of a ‘free market’ economy has been in vogue for many years, but, with reference to residential property in particular, this concept should be confined to bona fide residents of the host country.
Mike Horton, Burnaby
