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I am coming around to the idea that we should just be taxing land, and not new development.
Move to Edmonton. He can buy a detached house there.Find Out If Your MP Is A Landlord Or Invested In Real Estate
The federal government forces members of parliament to publicly disclose their sources of income, properties owned and investments.
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increase property tax by a very larger % for investment condos, detached houses, townhomes etc... and lower taxes on purpose built rental appartment buildings, no real estate investor would ever think of buying a condo or house if the property tax was 5 times higher then primary residence lol...
You might be okay for any income-generating property but different tax rates for different versions of principle residences might run afoul of the Charter.
Taxing denser forms punitively and giving wealthiest homeowners a tax break seems like exactly the opposite of a good idea if we're trying to promote affordability.
Don't we already tax multi-unit residential more heavily?
To be quite honest I don't fully understand how mil rates are applied to assessed values and within similar zoning classes. I guess my point was it might not be considered equitable to tax a $2Mn SFH higher than a $2Mn penthouse condo (assessed values), both used as principle residences, simply because one includes its own plot of land and you don't need an elevator to get to.
no all primary residence tax rates would be the same , nothing would change if you live in the unit , it only changes once you turn it into a investment property
