Opinion: To fix the housing crisis, overhaul city taxes to incentivize building affordable units
www.theglobeandmail.com
A higher tax should be charged to real estate developers for over-sized and high-end luxury homes and a lower dollar amount for entry-level homes

[some company built] two-bedroom and three-bedroom stacked townhouse units in Toronto, selling for $500,000 on average. The city charged our project the full development charges of $30,000 per unit. At the same time, companies behind luxury condos in the city selling for $1.5-million were also paying $30,000 per unit.

Interesting idea. It doesn’t sound like a silver bullet for the housing crisis, but it would be a step in the right direction.

  • abogical
    3·
    2 年前

    Land value tax would solve this. If the city doesn’t want oversized units, tax land.

    …and get rid of development charges altogether. Why are we punishing homebuilders with more taxes?

    • MacroCyclo@lemmy.ca
      2·
      2 年前

      Good point, there is a cost for hooking up a new building, but if you build something the taxes on that land will go up and likely recoup the cost.