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They would probably be better off fixing how they asses the value of condos. Which, AIUI (and one have a good explanation?) is based on imputed rent, capped at
by lokar 5mo ago
They would probably be better off fixing how they asses the value of condos. Which, AIUI (and one have a good explanation?) is based on imputed rent, capped at the rent of the closest example they can find. So no condos get taxed more then the most expensive rental (I could have this wrong).
- idontwantthis 5mo agoTFA makes clear that addressing this is part of the phased implementation.
- lokar 5mo agoI can’t tell if it will apply generally or just vacation homes. It says “gradually”, but that seem to be about the rates, it the scope. And it does not explain how the current system arrives at such low valuations.