The Regional District of Nanaimo wants the province to scrap the speculation tax.

The tax was announced in the 2018 budget and will ding homeowners in larger metropolitan areas of B.C. for any residential property that isn’t their principal residence and is not rented out.

Regional district chair Bill Veenhof says he supports the goal of building more affordable housing but says the tax will work against the region’s efforts to develop affordable housing.

“Our property values here will decline,”