For much of the last decade in Vancouver, property tax increases barely surpassed inflation, never higher than 2.8% until 2016, when they shot to 4% and have eclipsed that mark ever since. What these increases should tell us is not that we were paying too little until 2016 but that we h...
Calgary is having its own struggles over property-tax increases after giving a big chunk of money for a stadium and now having to deal with the predictable backlash as taxes rise for basic services. And, in Surrey, it’s kind of a reverse problem, where longtime zero-tax-increase advocate...
Tax increases get support of chamber ; Group backs hikes in Vancouver sales, property leviesJEFFREY MIZE, Columbian staff writer
Yes, when you are adding a laneway house, you are making improvements to your property. It will increase the value of your house, and your property tax bill will increase as a result. You can contact the City to find out how much more tax you will be paying when you add a laneway h...
Paul Sullivan, Ryan Canada’s regional property tax lead, said other municipalities in Canada opted to freeze property tax increases during the pandemic, while Vancouver raised them. “In Calgary, Edmonton, in Montreal and Toronto, they went with a 0% tax increase,” Sullivan said. “In Vancou...
Like many other analysts, D’Eathe says blanket upzoning for density mostly just increases the cost of land. That drives up future housing prices, as developers and investors speculate on getting more bang from less property. Alas, politicians, he says, tend to privately like t...
plus landlords are responsible for the cost of home maintenance and repairs. Homeowners, on the other hand, are more vulnerable to unexpected expenses like maintenance and repairs, as well as potential mortgage rate increases. As a result, renting often ends up being much cheaper than your total...
The City of Vancouver imposes an annual Empty Homes Tax ("EHT") on vacant Vancouver houses and residential lands to encourage owners to tenant the houses and encourage construction of new housing on empty lots. The Province imposes its own Speculation and Vacancy Tax ("SVT") and the Federal ...
Property investors know the value of maximizing the value and cash flow of their investment. There are many easy ways to improve the value of an investment property, and they can have moderate cash flow increases. For some properties, there is value in making significant upgrades to greatly imp...
potential for situations where an owner might attempt to avoid paying the tax on an un-occupied second home by entering into a rental agreement with a corporation (which they might own) or a family member or friend, without the property actually being occupied as a long-term rental pro...