4 ms·
The title is misleading. The tax is apparently 1% of property value. $10,000 would be the tax on a $1M home.
by rdmcfee 10y ago
The title is misleading. The tax is apparently 1% of property value. $10,000 would be the tax on a $1M home.
- BDGC 10y agoA typical home in Vancouver BC is $1.4M[0], so if anything it's an understatement. [0] http://www.cbc.ca/beta/news/canada/british-columbia/vancouver-real-estate-house-prices-1.3564528 http://www.cbc.ca/beta/news/canada/british-columbia/vancouve...
- darkstar999 10y agoWow. This is what happens when it's too easy to borrow money.
- dmix 10y agoPossibly, but only easy to borrow money to buy homes...rather than build more homes, otherwise that'd drive prices down.
- titanomachy 10y agoThere's lots of development, but it takes time to see the effects of that. The recent spike in prices has been extremely fast, up by 20% in 2015. Also, the city has to approve any increases in density, which doesn't happen overnight. Faster than silicon valley, though.
- jannotti 10y agoWhich still qualifies as "misleading"
- deleted 10y ago[deleted]