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 - ThreadSky

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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

Comments

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?"

kwilsonhfx.bsky.social•22 days ago

Cheaper place (combination of smaller place/further away.

In a world without a cap in place, that behavior actually saves you money (vs today, where you would likely come out negative).

nickidoyle.bsky.social•22 days ago

Right but those places don't exist, yet.

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.

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