Quote:
Originally Posted by Sliver
This tax increase could very well be large enough that we'll have to rethink our vacation home there. So who will buy if we sell? The front desk Aussie at the Windmark? The dishwasher at Boston Pizza? Of course not. It'll just be a richer Calgarian than me. This tax solves nothing in terms of affordable housing.
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That's not really how real estate works though. If a richer Calgarian had wanted your property or one like it, they would have bought it already. But now because tax rates are going up, they're all of the sudden going to want to buy the place? The only incentive would be if the price dropped, which would naturally improve affordability for locals because the pool of potential buyers would be smaller.
Generally I don't mind vacant home taxes when we're dealing with housing shortages. However, I do think there should be carve outs for places that are primarily recreational.