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Originally Posted by Cube Inmate
Just thought I'd take the opportunity to complain about the "market value"-based taxation system. While it may seem like a good idea, there are situations where it's a little unfair.
My grandparents bought their house almost 60 years ago, when it was in Calgary's suburbs. Now, it happens to be assessed at almost 900K because of its ideal inner-city location. You think my widowed, 89-year-old grandmother can afford to pay taxes on that? It's not easy.
Sure, she could sell the house and be an instant millionaire...but that's not the point...it's her home. Why is she paying 5x as much for the privilege of owning it as someone who lives in the burbs, when that suburbanite likely uses far more of the city's services?
Just a rant.
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Why not use the same "logic" with stocks? or antiques? (I bought it 30 years ago.. what do you mean I have to pay all these taxes when I want to sell my stocks?)
Your grandma also gets all the added benefits of being in the inner city - close to everything, pretty decent public transportation, etc - things that those of us in the outlying areas don't get.
Face it. Property is an investment as well as a home. Don't like it? Too bad. Move.