I am happy for there to be plenty of carveouts for woodland, farmland, or land outside of the primary development area. I will argue for any measure to develop vacant lots in dense areas.
Saint John -
Corner of Charlotte and Princess, 175 Germain Street, freshly demolished corner of Sydney/King St N, Corner of Coburg and Union, soon to be vacant Golden Ball site, etc.
Just to post some more of what Tim Somerville said -
Quote:
“Rewarding them is beneficial to everyone. Once these vacant properties are developed, they are definitely going to provide a higher tax to the municipalities, as well as the province, so instead of penalizing the owners, by telling them that if they don’t build on it soon, they’re going to be taxed more, reward them by saying, if you are to build, for every whatever, $25,000 or $50,000 of assessed value that’s increased with development, that we will reward you back with some type of incentive for building.”
Somerville said a grant or payback plan would help convince people to develop their vacant lots, especially if it had a deadline, such as taking advantage of the program within five years.
“It gives people a reason to build. And if they do build, the difference on the tax amount on a parcel of land and one residential home that gets built is substantial. Everyone would win.”
|
That's right, after you've sat on your prime real estate for a decade or two, paying pennies of property taxes, the government should pay you to develop it. Will someone please think of these mom-and-pop speculators!
Quote:
Then there are people of modest means who might have bought a vacant lot, hoping to build their dream home one day once they have enough money.
“All they’re doing is penalizing somebody who invested some money in a parcel of land in which again, I don’t think anybody should have to force a consumer’s hand like that without at least providing them some type of advantage of doing so.”
|
Give me a break, this isn't aimed at someone buying a SFH lot to build a house.