Re:Canada to ban foreigners from buying homes
by rank0 on Thursday April 07, 2022 @05:35PM
(#30950625)
If most voters are homeowners then what exactly do we expect? Of course they're going to push for lower property taxes...maybe homeowners feel that their money already gets taxed 5+ times before they can spend it on their literal shelter. Most folks effectively work for the government 4 months/yr AND owning property requires another annual fee to the tax man.
High property taxes hurt renters too. Rent prices increase to cover the difference.
No, but real estate companies wouldn't be able to lower property taxes alone. It's only happening once there is a critical mass of homeowners that is voting themselves a tax cut. Large real estate companies get exactly the same tax cut and since they have more property they benefit more than the average homeowner. One could have a tax cut for owner occupied housing but no, there is no limit to the tax cut. Everyone including billionaires gets it. That's incredibly unfair.