The lead author of a report pitching a solution to housing inequality says he's willing to take a hit himself for what he sees as the greater good -- and other homeowners should too.
The report by Paul Kershaw, in the University of B-C's School of Population and Public Health, along with input from 80 other experts recommends a progressive annual tax on principal homes over one million dollars.
The taxes would range from 0.2 per cent to one per cent and would be applied at the time of sale.
Kershaw says his own home went up 500-thousand dollars in value to more than 2-million dollars this year and it's important for homeowners like himself to play their part in reducing the wealth gap.
The federal government says it won't apply an equity tax on primary residences, but it is working on a Fairness in Real Estate Action Plan with provinces, territories and municipalities.
Ontario's Finance Ministry says it's reducing housing inequity with a speculation tax.
B-C's Finance Ministry says its housing plan includes cracking down on tax fraud, a vacancy tax and building tens of thousands of new homes.