Quote:
Originally Posted by bat119
They aren't talking about vacation or rental homes the target is houses and condos bought by foreign conglomerates that buy dozens of dwellings then board them up no utilities are ever connected to them, In Toronto they estimate there could be as many as 65,000 driving prices up and making it unaffordable for most average people and causing as housing/rental shortage. It will eventually lead to the "bubble burst" everybody's been talking about for years
Vancouver demanded that B.C. amend that city's charter to allow it to impose a first-in-North-America vacancy tax that will go fully into effect in 2018. Homeowners are getting mailed notices warning them that they will have to make a declaration about the occupation of their property in 2017 by February of next year. If their property was not occupied by the owners or family and if it was not rented for at least six months in 2017, they will have to pay an additional 1 per cent of their home's assessed value in property tax.
https://beta.theglobeandmail.com/new...beandmail.com& |
A 1% increase in property taxes isn’t going to discourage anything. Property values in Vancouver are increasing at 15-20% per year, even adding the tax the ROI is staggering. This isn’t the kind of market even little guys can get in on and make a few bucks, but in true Canadian fashion the opportunity needs to be destroyed. 
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Upset a Lefty, Fly a Drone!
"I find it interesting that some folk will pay to use a range, use a golf course, use a garage bay but think landowners should have to give permission for free. Do these same people think hookers should be treated like landowners?" pitw
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