Quote:
Originally Posted by Travis Munroe
I haven't seen any figures on what it will do to property taxes but let's say we are on the hook for 800m (high figure), and that the population was 1m (low figure) then we are looking at about $8 per month per person for the next 7 and a half years. That is based on an average so a house bringing in $90,000 with 4 people (2 kids, 2 adults) would pay $32 a month between now and the Olympics (0.0042% of the household income spent on hosting the Olympics).
Whether you can afford to attend or not, you will 100% be able to soak in a ton of free (paid for via taxes) entertainment.
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Make sure to add in the 1/4 of provincial and 1/30 of federal and quit trying to car salesmen us with the Monthly payment. About $3500 per family using your numbers. That is a meaningful amount of money. It isn’t just $32.
I also don’t think 800 million is the high end. The estimate is likely +\- 30% with 20% contingency. The city is contributing around 500 million. They cut 125 million from security when facing losing the bid so I assume that gets added back in. 200 million of the 1 billion contingency is planned to be funded with an insurance product that may or may not exist. So I think you need to add a 10% overage to the current budget, the 125 million back in and the 180 million in contingency. So I believe the realistic spend by the city, or at least the amount we are prepared to spend 50% of the time is 1.3 Billion.