Quote:
Originally Posted by Mr.Coffee
Taxes should be dropping if they are linked to housing prices. All across the board.
I’d wager to say outside of renovated places there isn’t a property in Calgary worth more this year than last. Next year and year after will be even worse. We are going to see a 5-10% correction on housing values I bet.
But the city has been undertaxing homes and property taxes for a long time now and shifted the burden too much to commercial. Now that we have decided to make it near impossible to run a business and businesses are going bankrupt or folding as the risk / reward ratio makes no sense, the city needs to maintain its tax revenue.
Thus, your property taxes are going up, and will next year and the year after that- probably fairly significantly, regardless of your home value which is dropping.
You can all thank the government of Canada, Alberta and BC for this mess.
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I think the city also has a spending problem. They spent like drunken sailors and have yet to reign that back with the new economic reality of the city.