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Ontario helping first-time homebuyers

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Canadian Realestate Magazine | 14 Nov 2016, 02:07 PM Agree 0
The province is giving a larger tax break to certain buyers, but hiking taxes for others
  • Mike | 15 Nov 2016, 12:55 PM Agree 0
    What does it mean "the gov is freeing the property tax on Apt buildings"
    does that mean the new assessment that we have recently received does not apply or does the freezing kick in after the new assessment?
  • Aldoman | 20 Nov 2016, 05:35 PM Agree 0
    Freezing apartment building property taxes while it studies its impact on rents is total political crap timed for the 2018 provincial election! Classic Wynne - McGuinty politics. The apartment building taxation has been studied for over 30 years, and the GTA is reducing apartment building tax rates to bring them closer to the residential tax rates. York and Peel Regions are already at the residential rate. The market rent on turnover provision of the Residential Tenancies Act is the reason rents have skyrocketed and everyone knows that. The freezing of apartment building taxes will just transfer a huge tax load onto homeowners. My guess is they will study this until after the election and then retroactively apply the higher taxes when they are elected.
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