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.:
- 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.
- 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.
- 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.
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.