policyenthusiast
Active Member
Surely raising the breakeven profit point of home flipping could never result in higher prices when the home is re-listed. Affordability is important, and self-regulated prices on inelastic goods works every time.
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- Thread starter Daveography
- Start date
David A
Senior Member
Yes, but those tax changes mostly just apply to them. Flippers are also competing against other sellers who have still have more favourable tax treatment.
TAS
Senior Member
So will the province's bottom line benefit - and they benefit without expending any political capital, unlike the feds.
David A
Senior Member
Yes, the province is along for the ride by default. It would probably be more complicated than what it is worth to opt out.
But I really doubt much political capital has been spent taxing property speculators like other businesses.
But I really doubt much political capital has been spent taxing property speculators like other businesses.
Avenuer
Senior Member
Typical fear mongering, everyone knows we can't keep those services concentrated in Chinatown and need to spread them out, so when the GOA finds a less central location, the NIMBYs come out. Classic. I guarantee there would be more pushback against this location if it was in a residential area versus industrial, even though the Dovercourt people are saying an industrial location isn't appropriate.
No one wants a shelter to move in nearby, but they need to go somewhere,
policyenthusiast
Active Member
I agree, and as previously mentioned by another person the separation of people in crisis from high-stress areas like the downtown core can be good for everyone. The new zoning bylaw allows shelters to be built in neighborhoods, so it sure could be a lot worse for Dovercourt residents.
David A
Senior Member
I don't live anywhere near there, so I don't have strong feelings based on that but I'm not sure trying to portray this just as a NIMBY is fair or accurate.
I am very concerned how putting people in such an area with fewer services nearby could be very isolating and may be an unintentional (or maybe even an intentional) to ghettoize them. You know out of sight, out of mind.
I do agree the brunt has been borne by areas like Chinatown, but interestingly when a more suburban area is proposed it certainly isn't a better off one. Dovercourt sure isn't Glenora, maybe those putting this forward thought they would be more of a push over.
MacLac
Senior Member
MacLac
Senior Member
Knew we were going to get this story sooner than. Later……
edmonton.ctvnews.ca
Lack of city building inspectors delaying Edmonton housing construction during boom
Edmonton is in the middle of a home construction boom that could be the biggest it's ever seen. With the city's population surging, experts say it's still not meeting demand and it's also causing delays for building permits and inspections.
IanO
Superstar
policyenthusiast
Active Member
The City of Edmonton (as of about an hour ago) is now allowing Administration to prorate taxes on remediated derelict properties. Prior to now, derelict properties have been (functionally) charged triple property taxes, but since the assessment cycle for 2024 is already complete any owners of derelict properties were paying high taxes even if they remediated or demolished the problem properties. This unintentionally discouraged property owners from addressing the problem properties in a timely manner, which is the reason for this change.
You can read the full report from the City FCS folks here:
You can read the full report from the City FCS folks here:
policyenthusiast
Active Member
City of Edmonton just put out a press release regarding this. I would also flag that this program has worked extremely well, I don't have the most up-to-date numbers but last I heard 10% of all derelict properties in the City were remediated this year:
Prorated tax forgiveness now available for remediated derelict properties
October 2, 2024
Today, City Council approved prorated tax forgiveness for derelict property owners. This represents an additional incentive for derelict owners to clean up their properties quickly, following the establishment of a derelict residential tax subclass last fall, the first of its kind in Canada.
Under the subclass, properties assessed as derelict are charged a tax rate that is approximately three times higher than the general residential rate. With this new policy, property owners can apply for a refund of the derelict residential property tax for the portion of the year that their property was cleaned up. For example, if a derelict house is demolished on May 1, this prorated tax forgiveness would mean the property owner would pay taxes at the derelict tax rate for January-April, and then would receive a refund so that their net amount paid is equivalent to the general residential rate for May-December.
“We’ve seen great progress from our residential derelict tax subclass in only one year, and this is another positive step,” said Cate Watt, Branch Manager of Assessment and Taxation. “Incentivizing property owners to clean up their derelict properties more quickly has a positive impact on community safety and vibrancy, and reduces the disproportionate amount of City costs associated with derelict properties for services like fire rescue response and bylaw enforcement.”
The policy will take effect immediately, allowing property owners who cleaned up their properties in 2024 the ability to apply for reimbursement of the additional taxes they paid this year. Derelict owners will receive more information with their tax notices on how to apply for the partial tax forgiveness when their properties are remediated. Of over 200 properties officially assessed as derelict in 2024, at least 23 were demolished. Assessments are being reviewed now in preparation for 2025.
Prorated tax forgiveness now available for remediated derelict properties
October 2, 2024
Today, City Council approved prorated tax forgiveness for derelict property owners. This represents an additional incentive for derelict owners to clean up their properties quickly, following the establishment of a derelict residential tax subclass last fall, the first of its kind in Canada.
Under the subclass, properties assessed as derelict are charged a tax rate that is approximately three times higher than the general residential rate. With this new policy, property owners can apply for a refund of the derelict residential property tax for the portion of the year that their property was cleaned up. For example, if a derelict house is demolished on May 1, this prorated tax forgiveness would mean the property owner would pay taxes at the derelict tax rate for January-April, and then would receive a refund so that their net amount paid is equivalent to the general residential rate for May-December.
“We’ve seen great progress from our residential derelict tax subclass in only one year, and this is another positive step,” said Cate Watt, Branch Manager of Assessment and Taxation. “Incentivizing property owners to clean up their derelict properties more quickly has a positive impact on community safety and vibrancy, and reduces the disproportionate amount of City costs associated with derelict properties for services like fire rescue response and bylaw enforcement.”
The policy will take effect immediately, allowing property owners who cleaned up their properties in 2024 the ability to apply for reimbursement of the additional taxes they paid this year. Derelict owners will receive more information with their tax notices on how to apply for the partial tax forgiveness when their properties are remediated. Of over 200 properties officially assessed as derelict in 2024, at least 23 were demolished. Assessments are being reviewed now in preparation for 2025.
IanO
Superstar
^and yet a dirt/muddy parking lot with noxious weeds, standing water and rarely attended to seems to get a pass.
IanO
Superstar
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kcantor
Senior Member
Perhaps because it’s consistent with the City’s push for more naturalization…