On Tuesday, The Vancouver Sun's Jeff Lee paraphrased Housing and Social Development Minister Rich Coleman has stating the province's property transfer tax adds only about $5,000 to the cost of a $500,000 home. But, as two letters published in the Times Colonist today observed, that tax would actually total $8,000. "Housing sales are a major driver of the economy. It should not be too difficult for those in government to understand citizens' anger arising from our leaders' cavalier approach to fundamental mathematics," wrote Duncan realtor Don McClintock. So why was the minister off by $3,000? Well, in an email yesterday, a housing and social development ministry spokesperson explained, Mr. Coleman "was in a hallway speaking to a reporter, did a quick approximation in his head" and, unfortunately, came up with the incorrect answer.
September 30, 2010