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AVERAGE RESALE HOME PRICE DROPS $3,500 IN NOVEMBER
The average price for a resale home in Canada's major markets fell by almost $3,500 last month, as prices tumbled in a couple of the country's most expensive cities.
NDP PLEDGES PROPERTY ASSESSMENT FREEZE UNTIL HOME SALE
An Ontario NDP government would freeze property tax assessments for individual homes on the market until the home is sold or undergoes major renovations, Howard Hampton said Wednesday.
The tax system in Ontario is by far bazaar at best. Like most Areas you are penalized for upgrading your home. Now I might be dumb but why should a persons tax be higher because you resided you home or decided to put in new windows? If we reacted to the taxation methods all of Ontario over night would become a slum. that is decks left to weather as nature would have it tar paper for siding and untended lawns so that we can apply and have our taxes reduced because the property is worth less then it is currently assessed at.
If you have a lot 122 by 60- ft why should you pay more tax because your house is bigger? It does not cost any more for the city to service it then then smaller home on the same size lot next door to you. but yet you might pay 300 to 500 dollars more annually.
In my city the home value goes up by 10 percent or more annually and the city gets that same raise in the tax plus what ever amount they increase the tax rate by. Even at this they still cry we need more! I say try looking after what you get and stop all wastefulness.
I would love a 10 plus percent wage increase each ear I would do rather well.
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