Sounds like a good change. It'll make sure wealthy property owners are paying their fair share and low income households will be exempt from provincial property tax altogether.
this post was submitted on 30 Mar 2024
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I really hope this is the start of nationwide property tax reforms.
Part of the reason we're in a housing crisis is federal tax policy encouraging Canadians to treat property as an investment, rather than a place to live.
If we set a reasonable lifetime maximum on the federal property tax exemption on home sales, that could deflate the market. There are lots of options.