Speculators can avoid the 15-per-cent tax on residential property by buying bare farmland and building a house on it, and there are also property-tax advantages. For example, an ad from Royal Pacific Realty advertises a small acreage in Richmond with building plans for a 12,000-square-foot mansion: “Set up your own private driving range, swimming pool or tennis court. It’s all permitted on ALR land and, because of the farm status, you pay no property tax,” the ad says.