Evaluate the speculation tax described below with reference to at least two qualitative characteristics of taxation. Fully explain your opinion on the tax.

This new annual property tax will apply to foreign and domestic homeowners who do not pay income tax in B.C., and individuals who leave their properties vacant. The new tax will initially apply to homes in Metro Vancouver, the Fraser Valley and capital regional districts in Victoria and Nanaimo, Kelowna and West Kelowna. In 2018, the tax rate was 0.5 per cent of assessed value. In 2019, it rose to 2.0 per cent of assessed value.