this post was submitted on 24 Jun 2023
64 points (100.0% liked)

Canada

7499 readers
1235 users here now

What's going on Canada?



Related Communities


🍁 Meta


πŸ—ΊοΈ Provinces / Territories


πŸ™οΈ Cities / Local Communities

Sorted alphabetically by city name.


πŸ’ SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer


πŸ’» Schools / Universities

Sorted by province, then by total full-time enrolment.


πŸ’΅ Finance, Shopping, Sales


πŸ—£οΈ Politics


🍁 Social / Culture


Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca


founded 4 years ago
MODERATORS
 

Someone bought a century home in Saint John and is allowing it to rot. The buyer apparently lives in Toronto and doesn't care that the building is falling apart.

This is shitty. Someone has the money for "an investment", which means other people don't get somewhere to live.

you are viewing a single comment's thread
view the rest of the comments
[–] Bondjimbond 7 points 2 years ago (1 children)

Vacant home taxes can work if they are serious numbers. I want to see a vacant home tax at 25% of the property value annually.

[–] masterspace 2 points 2 years ago (2 children)

No issue there, but why just vacant homes? Why are we not taxing all non primary homes when so many people who want and should be able to afford a primary home, cannot?

[–] kent_eh 4 points 2 years ago (2 children)

Any tax that targets landlords will simply be passed on to the tenants, making rent more expensive.

Vacant building taxes seem to me to be a more effective tool to increase housing availability.

In Winnipeg there are some very visible buildings that have dozens of apartments that have been boarded up for years. The owner is a speculator in another city who refuses to do anything with the buildings. It's just sitting there falling into disrepair.

[–] PenguinTD 2 points 2 years ago

the pass off to tenants are simply not true, there is a threshold and after that threshold buying a home is cheaper than renting. And not occupied rental unit is actually "expensive" to the landlords, so they will be forced to sell.

There are many things that affects how that would be applied, and the fall out of how you implement such tax.

  • you can't design the rules only for big metropolitan cities.
  • remote region does benefit from ownership cause the owner pays property tax to help maintain some basic local infrastructures.
  • need serious loop hole check so you don't ended up having companies gobble up everything "on sale" cause regular human landlords can no longer afford extra units.
  • buying a place should come with responsibilities to maintain that place, if left to rot or damage heritage site, government should be able to take over and bill the owner.
[–] masterspace 0 points 2 years ago

Any tax that targets landlords will simply be passed on to the tenants, making rent more expensive.

Simply untrue, if a landlord has to pay more tax on a non-primary residence, they're going to have to rent it out for far more than a mortgage payment would cost a first time home buyer, meaning that the first time home buyer will have an easier time justifying outbidding them at sale time.

Also impossible for a landlord to pass that on in any property that is rent controlled with long term tenants, likely forcing them to sell their second and third homes, putting more on the market and driving prices down.

[–] Splitdipless 1 points 2 years ago

Not a bad idea, so long as the secondary property has utility. I'm thinking cottagers and those with Cabins in the woods can be taxed out of their long weekend/summer stays, but it doesn't add to where homes are needed.