I suspect @denysullivan.bsky.social has worked it out already (or could ballpark it of asked nicely). - ThreadSky

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kwilsonhfx.bsky.social • 22 days ago

I suspect @denysullivan.bsky.social has worked it out already (or could ballpark it of asked nicely).

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You could cut the resi rate by 27% if there was no cap. So for the HRM portion of the rate, that'd be going from 0.77% to 0.56%

seebo429.bsky.social•22 days ago

I'd be paying an extra $700/year

But if I were to buy my own home today I would be saving $1200/year which is moot because I wouldn't be able to afford the mortgage anyway

denysullivan.bsky.social•22 days ago

Did you account for the provincial 0.3%? But yes, just cutting the rate would most "net" help big apartment owners (who dont have the CAP)

nickidoyle.bsky.social•22 days ago

Question: what's the point of removing the cap and maintaining the same revenue?

kwilsonhfx.bsky.social•22 days ago

Even if revenue neutral, it would still be more fair (same value property taxes at the same rate).

Has the side benefit of encouraging people to downsize/sell to developers in high-demand areas.

nickidoyle.bsky.social•22 days ago

I guess my follow-up is "downsize to what?"

seebo429.bsky.social•22 days ago

No just the municipal. I'm like a provincial sov-cit or something

seebo429.bsky.social•22 days ago

But! If I moved next door into a hypothetical identical house my taxes wouldn't jump $1950 per year.

seebo429.bsky.social•22 days ago

Ahh I was searching him with 2 n's!

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