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> Then, in some jurisdictions like Ontario and BC, owner-occupied homes are actually charged less property taxes. In other words, renters are subsidizing homeow
by voisin 3y ago
> Then, in some jurisdictions like Ontario and BC, owner-occupied homes are actually charged less property taxes. In other words, renters are subsidizing homeowners.
I’ve owned in both and I am not sure what you are referring to. Residential mill rates don’t seem to distinguish between owner occupied and not. The only thing I can think of that resembles what you are talking about is the extra tax on vacant homes or extra tax in some municipalities on secondary homes?
> Then, in some provinces like in BC, you can actually apply to defer paying property taxes entirely until you're dead at which point the estate pays the balance.
There’s interest that applies too right? It is essentially a loan from the municipality and I think it also gets paid if you sell before death. I agree that it is totally bizarre that BC offers this.
> Further, homeowners with a home worth less than about 2.125 million, and you are 65 or older, you are eligible for a grant of $1045 per month discount on your property taxes simply for being a poor downtrodden homeowner.
Yup, this is ludicrous and a self-serving item by and for boomers. I think this is per year though - not per month.
- drpgq 3y agoIn Hamilton, purpose built rental apartment buildings have a way higher mill rate than condo buildings (even when individual units are rented out) or single family houses. Tyranny of the single family homeowner majority.