innsertnamehere
Superstar
no they shouldn't. If you moved to Mississauga, you could afford a much larger home. You probably wouldn't live in a semi (never mind the fact that there is essentially no such thing as a 5 bed semi in Mississauga), you would likely live in a larger detached home.We don’t have lower property taxes. Property value aside, take a five bedroom semi like mine and put it in Mississauga, and I guarantee I pay more. That’s because property tax is set as a percentage of its assessed value, and Mississauga is worth less. That‘s the problem with these property tax comparisons, they take a hypothetical equal value home, when they should be using a hypothetical house type. I bought my house in 1998, when it was about a quarter million, but now it’s valued at four times that, but my use of city services has not quadrupled, nor has my ability to pay quadrupled.
Property taxes are based on assessed value since they tax the value of your home.
A home is an asset that is taxed like any other - by asset value. Capital gains on stocks aren't taxed per stock, it's taxed on the financial gain.
It reminds me of the plights of seniors who complain that the carrying costs of their million dollar homes are too high for their CPP and GIS incomes. They try to plead poor while sitting on a million bucks. Sorry buddy, no sympathy. You literally state that you have enjoyed an average 7% annual appreciation on your home over the last 21 years, tax free, yet plead poor that you can't afford a higher property tax rate? Bull crap on not being able to afford it, you just have cash flow problems.
Assessed value is what matters. And Toronto has much lower property taxes. Stupidly lower.
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