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The Decline of Vancouver.

Jan. 25, 2017, 7:46 p.m.
Posts: 10845
Joined: June 4, 2008

I see alternate facts are rampant..

"Have your kids enjoy our free education system!" - property taxes fund a percentage public education in BC, I think it's about 35% right now. so if they own that bajillion dollar West Van mansion, they are actually paying

In 2016 residential school tax rates in West Vancouver are around $1.2/1000 so if their house is 3M they actually pay ~$3600 per year towards schools.

How much of that would a renter directly pay?? $0

Have your elderly parents who've never payed a dime to Canada sponge off our free medical system!
You have to be "Eligible" to qualify for MSP coverage. Which means you are a legal resident (or spouse/or child), elderly parents do not qualify, unless they themselves are residents. (yes you can buy your way in, Quebec quota, blah, blah, blah.)

So instead of saying, "Have your kids enjoy our free education system!", you're saying he would be truthful if it was amended to, "Let us subsidize your child's education by 75% while you claim no income".

Oh wait, if they're not claiming income, that means we lose out on that source of revenue.

Now that I mention it, if property taxes only cover 35% of education funding, that means we need to find the other .. hold on a sec … 65% to cover the shortfall.

Now you might be right and the rest comes from the taxes of new Porsche's and Bently's, but I will go out on a limb and say that it might come from income and consumption taxes from those that live here. Even those vile, smelly renters.

Alternate facts indeed.

Jan. 25, 2017, 7:55 p.m.
Posts: 0
Joined: Dec. 27, 2002

Right now my wife and I pay, what, $60,000 a year in income taxes taken off our paychecks….Maybe even more.

And the prop tax on a west van house is what, 8k?

No comparison.

Jan. 25, 2017, 8:11 p.m.
Posts: 1181
Joined: April 25, 2003

Also, news flash: renters are paying property taxes. As a former landlord I'll tell ya right now that you may not see it as a line item, but no one is renting at a rate that doesn't cover their costs.

Jan. 25, 2017, 10:39 p.m.
Posts: 955
Joined: Oct. 23, 2006

Also, news flash: renters are paying property taxes. As a former landlord I'll tell ya right now that you may not see it as a line item, but no one is renting at a rate that doesn't cover their costs.

While I agree in principle, rents have little to do with cost. What you get as a landlord is dependent on what people are willing to pay and has nothing to do with what it cost you. It's supply and demand like everything else. High costs will affect supply over the long run though, so in a way you have a point.

Jan. 26, 2017, 9:39 a.m.
Posts: 9861
Joined: June 29, 2006

While I agree in principle, rents have little to do with cost. What you get as a landlord is dependent on what people are willing to pay and has nothing to do with what it cost you. It's supply and demand like everything else. High costs will affect supply over the long run though, so in a way you have a point.

Rent may have little to do with cost, but seeing as the owner must pay those taxes the rent they receive will go to the taxman before anything else. Obviously, this is all academic as the rent actually goes straight to the owner and money is fluid, but I think we can safely say that renters contribute to property taxes and therefore to education.

"Don't worry, they usually don't swim backwards" -- Steve Irwin

Jan. 26, 2017, 9:43 a.m.
Posts: 955
Joined: Oct. 23, 2006

Rent may have little to do with cost, but seeing as the owner must pay those taxes the rent they receive will go to the taxman before anything else. Obviously, this is all academic as the rent actually goes straight to the owner and money is fluid, but I think we can safely say that renters contribute to property taxes and therefore to education.

Hence why 'I agree in principle' ;)

Jan. 26, 2017, 1:10 p.m.
Posts: 1181
Joined: April 25, 2003

That was a nice bit of semantics guys!

Jan. 26, 2017, 4:49 p.m.
Posts: 10010
Joined: March 11, 2003

alternative facts are alternative facts though, amirite.

I am def covering all expenses on renting my house out.

Property/income surtax could fix a lot of these issues.

http://www.macleans.ca/economy/economicanalysis/a-roadmap-for-bringing-sanity-back-to-housing-markets/

tldr: if you own a house you owe a minimum amount of propert and/or income tax. say 1.5%. so on a 1M house you would owe $15,000. Got a decent job and pay income tax, awesome, you are all good. no income tax?? pay up..

Is there a Vancouver in Taiwan?! I had no idea!!

Nothing sums up my life's achievements like my stuffed corpse, suplexing a cougar.

Jan. 26, 2017, 5:10 p.m.
Posts: 10845
Joined: June 4, 2008

tldr: if you own a house you owe a minimum amount of propert and/or income tax. say 1.5%. so on a 1M house you would owe $15,000. Got a decent job and pay income tax, awesome, you are all good. no income tax?? pay up..

Now that's a pretty good starting point…

Jan. 26, 2017, 6:09 p.m.
Posts: 6
Joined: Jan. 12, 2006

A long time ago in this thread I suggested that property taxes should be hiked massively, and a rebate granted up to a portion of your income tax, or the amount of the property tax increase, whichever is the lesser. With accommodations for retirees, I still don't see why this wouldn't work. It's pretty similar to the above idea. NBR still pooped on my idea though… :(

Jan. 26, 2017, 7:27 p.m.
Posts: 10845
Joined: June 4, 2008

Who is NBR?

Jan. 26, 2017, 8:27 p.m.
Posts: 6104
Joined: June 14, 2008

When one is used to being on top equality can feel like oppression.

I don't look down on anyone, I don't care what they do for work, have in the bank or if they don't like the same things I like.

In Asia tradesmen are viewed as low class to be looked down upon.

Jan. 30, 2017, 9:46 a.m.
Posts: 6
Joined: Jan. 12, 2006

http://www.theprovince.com/news/local+news/premier+christy+clark+lifts+foreign+buyers+those+with+work/12806610/story.html

Guess Christy's donors wanted the door wedged open a bit. Choosing to make the announcement in Chinatown during the New Year celebrations is a little blatant though…

Jan. 30, 2017, 11:36 a.m.
Posts: 10845
Joined: June 4, 2008

As far as banana republics go, you can't deny their worth as politicians, or in more plain-talk, donation generation machines.

Jan. 30, 2017, 11:37 a.m.
Posts: 0
Joined: Dec. 27, 2002

With a potential 300k savings I'm sure Mr Foreign buyer will find a way to acquire the 'work permit' paperwork to buy the house and avoid the tax.

What a joke. This place is doomed.

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