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Isn't that because Canada has much lower property taxes than the US? So you have the same effect that you see in California, where low taxes drive up prices.
by francisofascii 5y ago
Isn't that because Canada has much lower property taxes than the US? So you have the same effect that you see in California, where low taxes drive up prices.
- refurb 5y agoI don't think spending $6,000 less in property taxes each would justify a $500,000 increase in price.
- fpo 5y agoThe math gets trickier when you consider monthly payments. At very low interest rates an extra 500k borrowed might only increase monthly payment by ~1500 which can be partially offset by $500-1000 less in property taxes per month depending on the municipality in Canada compared to US.