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2016 BC Property Assessment

Jan. 15, 2017, 8:43 a.m.
Posts: 1254
Joined: Nov. 6, 2006

again:stupid:starting to think its just me.

Jan. 15, 2017, 8:54 a.m.
Posts: 1084
Joined: May 29, 2003

correct me if I'm wrong,but the more people the gov can help get into the market the deeper the taxpayer well gets,no?

Yes, but put this into context.

Property tax revenue (broadly stated and includes property tax as we're talking about it) is forecasted for 16/17 to be only ~26% of income tax revenue and is less than %5 of the total provincial take. (Page 16).

It's not the depth of the well, but the use of the money in it that matters.

(seriously and respectfully with no between the lines shit) Why do you support, or do not support, giving a grant to everyone up to 1.6 mil in house price, regardless of means? This means the same $s go to a WW2 vet on assistance as a family with a take home of [HTML_REMOVED]150k? Should the provincial gov't encourage even more growth (the downpayment grant) even when things are without debate seen as bonkers to the Median 2013 BC family's pre-tax take home of 76k/yr?

For me, I don't support any of it. It's pants-on-head-stupid and irresponsible to me.

I'll circle back and say it again. The Trump election proved it. When 2 groups diverge so much and one doesn't see it or isn't willing to compromise, the other will get to the point that burning it all down makes more sense than fighting for reasonable and perceived changes that the other isn't willing to take.

Jan. 15, 2017, 9:17 a.m.
Posts: 7707
Joined: Sept. 11, 2003

How about US Federal tax code, where you get to deduct mortgage interest against your income and have to pay tax on capital gains over $250k (500k for a couple) on sale of property? Sounds like a way to control speculation, but it didn't seem to make a dent in lead up to 2008. I guess, like Love and Justice, Greed is blind.

Jan. 15, 2017, 9:18 a.m.
Posts: 1730
Joined: Nov. 23, 2002

(seriously and respectfully with no between the lines shit) Why do you support, or do not support, giving a grant to everyone up to 1.6 mil in house price, regardless of means?

house prices are typically a reflection of means. the only reason 1.6M seems absurd is that home prices have risen so dramatically over the past 10 years and especially in the past two. you have a lot of people in homes that are "worth" double or triple what they paid for them.

means/threshold testing is great, but we also have to be careful that we're not putting a disproportionate share of the tax burden on higher income earners. personally i think the income rate classes need to be expanded and adjusted.

Luck is what happens when preparation meets opportunity ~ Seneca

Jan. 15, 2017, 9:23 a.m.
Posts: 1254
Joined: Nov. 6, 2006

would a means test just turn it into another form of income tax?

Jan. 15, 2017, 9:26 a.m.
Posts: 1084
Joined: May 29, 2003

How about US Federal tax code, where you get to deduct mortgage interest against your income and have to pay tax on capital gains over $250k (500k for a couple) on sale of property? Sounds like a way to control speculation, but it didn't seem to make a dent in lead up to 2008. I guess, like Love and Justice, Greed is blind.

Doesn't control speculation below 250k(500k/cpl) cap gains. To me, only encourages it. Their problem wasn't that tho; it was the popping of unregulated high risk mortgage / debt securities that got bundled, pawned off as safe and resold a load of times. Seems like risk compounds the more you sell it. :/

Jan. 15, 2017, 9:30 a.m.
Posts: 1254
Joined: Nov. 6, 2006

i guess I just see the grant as a small reward for actually using my property as a home for me and my family.

Jan. 15, 2017, 9:34 a.m.
Posts: 1084
Joined: May 29, 2003

would a means test just turn it into another form of income tax?

Careful there cowboy. That's a slippery (but a valid) slope.

A means test with a subsidy/grant for those that fall on one side of threshold is not the same as an income tax. Certainly, compared to what we have now, reserving the current scheme could be easily be argued as new form of income tax.

But again, what's the purpose of any type of gov't assistance grant? It's to help those that need it. Otherwise, why not just lower property tax rate across the board? It'd save alot of bureaucracy and effort.

Jan. 15, 2017, 9:57 a.m.
Posts: 2405
Joined: Sept. 5, 2012

How about US Federal tax code, where you get to deduct mortgage interest against your income and have to pay tax on capital gains over $250k (500k for a couple) on sale of property? Sounds like a way to control speculation, but it didn't seem to make a dent in lead up to 2008. I guess, like Love and Justice, Greed is blind.

that would have been great in the 90,s when interest rates where around 10%

#northsidetrailbuilders

Jan. 15, 2017, 1:25 p.m.
Posts: 18109
Joined: Oct. 28, 2003

anyone freaked out about their tax increase should use data. Sucks to be above average though.

http://app.dnv.org/PropertyTaxCalculator/

http://www.dnv.org/property-and-development/about-tax-rates-and-your-tax-notice

Jan. 15, 2017, 1:37 p.m.
Posts: 33665
Joined: Nov. 19, 2002

I want to drive but can't afford $2K a year for mandatory insurance. There should be a car owner grant.

It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp

Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells

Jan. 15, 2017, 2:37 p.m.
Posts: 15019
Joined: April 5, 2007

Good work Heckler Buffet!

Why slag free swag?:rolleyes:

ummm, as your doctor i recommend against riding with a scaphoid fracture.

Jan. 15, 2017, 2:38 p.m.
Posts: 2405
Joined: Sept. 5, 2012

I want to drive but can't afford $2K a year for mandatory insurance. There should be a car owner grant.

no but if you don,t drive like a tard you can earn up to a 43% discount and still have to pay close to $2K a yr for a 16yr old truck .

#northsidetrailbuilders

Jan. 15, 2017, 2:42 p.m.
Posts: 314
Joined: Oct. 23, 2003

no but if you don,t drive like a tard you can earn up to a 43% discount and still have to pay close to $2K a yr for a 16yr old truck .

damn.. shits half price outside the L/M

Ha Ha! Made you look.

Jan. 15, 2017, 2:43 p.m.
Posts: 18109
Joined: Oct. 28, 2003

Good work Heckler Buffet!

No work at all. I pay $40 less tax and have a roof. Other than that it's just numbers I cant eat.

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