Quote:
Originally Posted by Ducay
Property tax based on land values is very progressive, however, it is a terrible way of assessing taxes.
Heck if you don't want to look at the points above, or outrage from business owners, look no further than Vancouver where elderly folks have been made to leave their homes simply because the assessed value skyrocketed and could no longer afford the cash property taxes. Sure they look wealthy on paper, but its all tied up in the house they can no longer live in.
They certainly are not using more services than any other dwelling.
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Virtually anyone over 55 can defer their property taxes indefinitely in BC, so I don't see why property taxes in Vancouver would drive any elderly people out of their houses.