Reducing Greenhouse Emissions at Home

October 8th, 2007 Categories: Green Condos, Vancouver Real Estate

Real estate sales and home ownership contribute to the economic unit social climate across BC. But real estate can also reduce greenhouse gas emissions.

BCREA, REBGV and Canadian Home Builders Association BC have responded to Minister Taylor’s question of how tax incentives could be used to encourage consumers to reduce greenhouse gas emissions by 33% by 2020 while maintaining a strong and competitive tax system, through a unique provincial pre-budget proposal to the Standing Committee on Finance and Government Services.

Built Green is a nationally based sustainability program, driven by the construction industry, that establishes standards for building new homes. The goal is to reduce a home’s overall environmental impact by producing homes that are more energy efficient. A Built Green home saves 2.5 tonnes in greenhouse gas emissions each year and improves interior home air quality. The program sets out criteria for achieving each of three certification levels: Bronze, Silver and Gold. CHBABC joined the program in 2005 forming built Green BC.

On average, a certified Gold home costs between 4-6% more than a convential house. CHBABC confirms that 400 Built Green homes were constructed last year and another 300 will be built this year. BCREA supports the idea of a pilot program to encourage the purchase of Built Green homes through a provincial tax incentive.

BCREA, REBGV and CHBABC are examining how buyers of Built Green homes could be exempted from paying the full Property Transfer Tax. Although the real estate profession looks forward to the PTT being eliminated or significantly reduced for all homebuyers, this pilot program would provide an opportunity for government and the real estate and construction sectors to evaluate the impact of tax incentives on consumer choice, affordability and environmental stewardship. Tax incentives for current homeowners who renovate their homes and achieve Built Green ratings could also be considered.

The program will be good for our economy, our environment and our neighbourhoods.

For more information visit http://www.realtorlink.ca/, http://www.chbabc.org/ and www.env.gov.bc.ca/air/climate

Do you live in a Built Green home? If so, would you share your experience with us? Do you have a Green idea for your neighbourhood?

REBGV