moo

Condo property taxes should be much lower than houses

Or should say: ” Detached property taxes should be much much higher than the high rise condo unit. “Individual condo units are assessed and taxed as though they are single family homes.  Delivery of municipal services to a 200-unit condo building is more efficient than delivery of those same services to 200 single detached homes.  But CONDOS DO NOT get the same services.  For example -  NO CITY GARBAGE PICKUP.  THEY MUST PAY A PRIVATE CONTRACTOR.So basically in cities, it is the high-rise condo owners who actually paying part of house owners’ property taxes to shoulder the municipal tax burden on house owners.Also for the same land lot, a detached house may only have 4 or 5 people live on it, but for a high rise condo, there are may be 1000 people live on the same land. The property taxes/land transfer taxes per person per land lot are MUCH MUCH higher for condo unit owners than a single house. It is like occupy on the SAME land, 5 persons (1 household) live in detached house only contribute for example $5,000 a year for property taxes, on the contrary, 1000 persons (400 households) live in high-rise condo on same land, will have to contribute for example 2.5K * 400= $1,000,000 property taxes per year. Such a huge difference in favour of the house-owners. I mean the property tax law is so problematic and unfair, isn’t it?I think this is also the main reason WHY levels of Government only want to build more high-rise small condo units (the higher stories the better) even in the suburb areas, they want YOU majority young people to shoulder all the current detached house owners’ property tax BURDENs, which are also the lawmakers’ own burdens (100% lawmakers are house-owners I believe). And if the detached houses’ property taxes are significantly increased based on land size occupied and values, then the prices of these houses will go down as well, they don’t want that happens.The Government keep advocating “Build More”, which really means to build more high rise condo units average 300 square feet each and 50 stories or more is the best, just in order to keep the current detached house owners’ property taxes being low. So let the condo households pay most of our municipals taxes and let the house owner class occupy most of the residential lands and enjoy their RE value doubling and tripling, while paying peanut property taxes. via /r/canadahousing https://ift.tt/3D7XKO8

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