Quote:
Originally Posted by Mr.Coffee
And as has been discussed before the taxes will rise much more than that. I have friends that have told me that we should believe Toombe over Ernst and Young. These friends are very smart people and I’m led to believe that we should buy whatever Trevor Toombe says as literal dogma and if he offered to sell us anything we should take it because Trevor Toombe is Trevor Toombe and holy #### never question Trevor Toombe.
Did Trevor Toombe outlay his assumptions or math to arrive at $25? As JBR says, show your work???
If there are 200,000 places that pay property taxes in Calgary at 500,000,000 it’s $2,500/ place. I’m aware it’s not this simple and I’m aware my numbers are dubious but I’m also highly, highly, incredibly highly skeptical it’s $25 on property taxes especially with no context or numbers or backup or anything. And most shocking is that people like you who are so enamoured and borderline cultish and closed minded about how important this is for some bizarre reason cruise on here and lap up Trevor Toombe analysis like it’s religious dogma.
Again get real. $25 in property taxes? You would have to be a complete and utter moron to believe that without context.
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Let me help you out.
There were 558,915 dwellings in Calgary in 2016 according to statscan.
The total cost to Calgarians quoted by bidco was $390 million
The length of repayment was 8 years from now till the olympics
Assuming the municipal cost of the olympics is fully covered by residential taxes. Commercial and industrial get a free pass:
$390 million/558,915 dwellings over 8 years = $87 per houshold per year
Or $7 per house
But the dwelling numbers will probably rise in the next 8 years and business taxes in the city are higher than residential.
If you don’t like bidco’s cost to calgarians, let’s use $540 million. Assuming only residential property taxes are paying the cost then the annual rise in property taxes is $120/year or $10/month per household.
But what if the cities cost rises to $2 billion? Well that’s why they have insurance and contingencies built in. With 85% of the venues in place i would think those kind of overages are unlikely.
If i’m way off please feel free to correct.