Yeah, it does sound suspect. I just bought an existing house and it was about 10% and I got most of that back via the first time home buyers rebate. I’d have difficulty believing they would incentivize existing houses so heavily and discourage new housing.
Do you have stats to backup that 1/3 price argument?
From my experience it was more like 5-10% cost was taxes
Yeah, it does sound suspect. I just bought an existing house and it was about 10% and I got most of that back via the first time home buyers rebate. I’d have difficulty believing they would incentivize existing houses so heavily and discourage new housing.
https://ca.news.yahoo.com/rescon-development-charges-lost-relevance-135507673.html
You do realize the Toronto Sun is an American-owned publication, right? And none of those figures are referenced.
Thanks for the link, looks like that’ll change drastically depending what city you’re in.
Did a lil research and it looks like it would indeed be in the 10% ish range for my city, but yea sounds like it’s too high in some areas.