Quote:
Originally Posted by casper
So a foreign investor (with $8.5M in assets), who does not depend on any government services in Canada is making the same contribution to the tax base as someone who works in Canada making $100k.
if that $8.5M is invested in say Condos, in addition to taxes they are paying condo fees. Lets say 8 condos, $400 per month per condo in fees. That is $3,200 per month in management, building maintenance and contribution to reserve funds for major upgrades.
Sounds like a good deal for the local economy.
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While it might be good for the city coffers and the strata it is not good for the overall city. I would rather have 8 occupied condos with people that buy stuff at local stores and create more jobs. The condos would also increase the supply and increase competition between landlords.
Personal I like to see a large increase in the mill rate and offer rebates on primary and rented residences.
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