Housing Central’s B.C. Budget 2024 Submission

  19 June 2023
Housing Central

On June 16, 2023, BC Non-Profit Housing Association, the Co-operative Housing Federation of BC, and the Aboriginal Housing Management Association submitted our Budget 2024 consultation paper [PDF].

We recommend the Select Standing Committee on Finance and Government Services consider the following proposals to strengthen housing affordability in B.C.:

  1. Support AHMA’s Urban Rural and Northern Indigenous Housing Strategy, allocating funding for the planning and implementation stages of the key actions dedicated to addressing Indigenous housing across the province.
  2. Dedicate $24M to offset the Property Transfer Tax of co-op lease renewals and Rental Protection Fund transactions, including $10M to compensate PTT payments resulting from transactions by non-profits supported by the RPF before Budget 2024 enters into effect.
  3. Allocate $60M to exempt non-profit housing providers from paying Property Tax by updating the classification of non-profit housing properties from BC Assessment to benefit them from the preferential property tax rates currently exclusive to Class 3- Supportive Housing.

Taken together, these proposals will ensure that British Columbians have increased access to affordable housing and that their housing is affordable, safe, and in a livable state of repair.

Download our submission [PDF]

About Housing Central

Housing Central is a strategic alliance between BC Non-Profit Housing Association (BCNPHA) and the Co-operative Housing Federation of BC (CHF BC). Our mission is to strengthen and grow the community housing sector so all British Columbians have a safe, secure home they can afford.