B.C.B次元官网网址檚 speculation tax is bearing down on us and raising more questions: What is the rational of exempting areas with rental crises while not exempting rural areas without rental problems? Who is getting a free pass? Is this tax actually just about speculation and vacancy?

Two very similar areas are treated very differently by the NDP. Both are residential seaside communities with summer cabins and vacation homes. One is exempt and the other isnB次元官网网址檛.

Belcarra: shall I compare thee to a Lions Bay?

*Distance from Vancouver:

Belcarra 38.3 km (approx. 50-minute drive); Lions Bay 30.9 km (approx. 25-minute drive)

*Population (2016 census):

Belcarra - 643 (smallest Metro Vancouver member); Lions Bay - 1334 (3rd smallest Metro Vancouver member)

*Population density per sq. km.:

Belcarra - 116.9; Lions Bay - 526.7

*Total private dwellings (2016 census):

Belcarra - 292; Lions Bay - 547

*Number of boat-access-only properties:

Belcarra - 57; Lions Bay - none

*Commercial enterprises:

Belcarra - none; Lions Bay - two

*Metro Vancouver regional planning designation:

Belcarra - rural; Lions Bay - urban

*Rental crisis:

Belcarra - none; Lions Bay - none

*Provincial ridings:

Belcarra - NDP; Lions Bay - Liberal

Belcarra is not exempt from the speculation tax, while Lions Bay is. There has been no explanation for this anomaly other than Belcarra is, in its mayorsB次元官网网址� words, B次元官网网址渃ollateral damage.B次元官网网址�

Finance Minister Carole James promised: B次元官网网址淧eople with cottages at the lake, or cabins, or on the islands, will not pay this tax. People with second homes outside of high cost urban areas will not pay the tax. WeB次元官网网址檙e going after those who are clearly taking advantage of the market and driving up prices. WeB次元官网网址檙e ensuring housing stock in our major cities is available for people who work hard and live in those cities.B次元官网网址�

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So why is a rural area without road access to 20 per cent of their dwellings targeted?

This is despite recognition that access might be an important aspect of rental accommodations: B次元官网网址淚slands that are accessible only by air or water are not part of the taxable regions.B次元官网网址� Perhaps there is a clue in Belcarra NDP MLA Rick GlumacB次元官网网址檚 alleged comment at an open house, Sept. 29: B次元官网网址淚 work hard too, but I donB次元官网网址檛 own a second house.B次元官网网址�

An examination of his public disclosure statements reveals GlumacB次元官网网址檚 spouse with investment property in Colorado, and four MLAs with investment and/or recreational property in exempt areas.

Not really very startling, except for the fact that Andrew Weaver, the Green PartyB次元官网网址檚 prop to the NDPB次元官网网址檚 minority government, owns investment property in Parksville.

A cynical mind might conclude that in order to get Weaver (B次元官网网址淣ow my job is to get the NDP to recognize itB次元官网网址檚 a stupid tax and get rid of itB次元官网网址�) on board, the originally nonexempt Parksville would need to be made exempt.

A cynical mind would conclude it worked: From his blog: B次元官网网址淲e ensured that the B.C. NDP government did not fall in their declared confidence measure while at the same time working tirelessly to ensure that many of the unforeseen consequences of the poorly-thought-through speculation and vacancy tax were mitigated.B次元官网网址�

One might wonder if the mitigation came in the form of an exemption. WeaverB次元官网网址檚 Parksville investment properties will increase in value. Realtors are already highlighting B次元官网网址渟pec tax exemptB次元官网网址� in their listings.

And one might wonder if the rental-accommodation-challenged Gulf Islands suddenly got their B次元官网网址渘onexemptB次元官网网址� turned into an B次元官网网址渆xemptB次元官网网址� because their MLA is Green.

How about the Juan de Fuca Electoral Area represented by John Horgan? Exempt. Granted, Langford, close to Victoria, is not included in this exemption.

But cynical minds might deduce exempting Langford and Victoria (JamesB次元官网网址� riding) would be unswallowable by the public.

Looks very bad for the premier to have his riding exempted without being seen to sacrifice something. Presto! Voila! No preferential treatment there. Except for MLAs who own property on Vancouver IslandB次元官网网址�

Out of 34 MLAs who own more than one property, 14 NDP and two Greens do so in Victoria. Four Liberal MLAs have disclosed the same. What is intriguing about this is that spouses who live apart are exempt from the tax if B次元官网网址渙ne principal residence is on Vancouver Island and the other residence is not on Vancouver Island.B次元官网网址� This directly benefits MLAs who have invested in property within commuting range of the legislature.

According to James: B次元官网网址淥nly those who hold multiple properties and leave them empty in our provinceB次元官网网址檚 major cities will be asked to contribute.B次元官网网址�

Apparently not so much. If MLAs only use their Victoria properties when the legislature is sitting, their properties are empty for the majority of the year. What? But MLAs only bought their places so theyB次元官网网址檇 have a place to stay in Victoria and they canB次元官网网址檛 stay in them if they rent them out! Seems a little self-interested to neatly exempt themselves from a tax they have no problem extracting from others.

Is the tax just a tricky way for the NDP to get into the property tax game?

Second homes will create a continuing stream of revenue as long as the owners donB次元官网网址檛 rent them out. As many vacation homes are uninhabitable or unrentable in cold weather, water access only, or used year-round by the owners, the revenue stream is guaranteed not to go dry.

B次元官网网址淧eople with cottages at the lake, or cabins, or on the islands, will not pay this tax.B次元官网网址� Then why is there not a blanket exemption for these places instead of a $400,000 credit? A cynical mind might conjecture a $400,000 credit can be lowered or removed in the event of government coffers running low.

Which brings us back to BelcarraB次元官网网址檚 MLA: B次元官网网址淚 work hard too, but I donB次元官网网址檛 own a second house.B次元官网网址�

A cynical mind would surmise the governmentB次元官网网址檚 intention is to eventually tax all vacation homes B次元官网网址� that second homes are fair game. Belcarra is the precedent that puts a lie to B次元官网网址淲eB次元官网网址檙e going after those who are clearly taking advantage of the market and driving up prices.B次元官网网址�

The speculation tax should target foreign buyers who have done their money laundering through B.C. real estate, who have driven our prices into the stratosphere, and who are leaving vacant condos in their wake.

When it targets second properties of British Columbians, it is a wealth tax. But then again, a cynical mind would theorize that was the plan all along.

Ingrid Rice is a political cartoonist who lives in North Vancouver