Vancouver Residential Tax to increase in 2010

[taylor192]

Originally Posted by q0192837465

I wonder if people will start having trouble payng huge property taxes. I mean the tax is base on house value. Say someone who bought their house 30 yrs ago. Now they're retired but that house price keeps climbing. Each year, they have to pay more & more on property tax. It'll eventually eat into their retirement savings & they'll have no choice but to sell the house.

I was having this discussion with a Realtor a couple days ago.

In Vancouver seniors can apply to pay less property tax, meanwhile in NYC if you cannot pay your property tax, the city forces you to sell.

So 2 very different approaches - which is better?

I contend that anyone sitting on $Ms of assets has no right to ask for a handout. It sucks to have to sell your home and move, yet any home west of Main St is worth > $1M and would go a long way toward financing a nice retirement.

Besides, we're all buying homes now as investments, we shouldn't be surprised to have to sell them one day to cash in on the equity.

[J____]

Originally Posted by StylinRed

items can be made with great quality anywhere, but the quality determines the price

so cheap goods made in china (or anywhere for that matter) will suck its just that most of the cheapest items come from china so we associate Made In China=crap

actually your wrong, reputation determines the price. Quality is just one of the by products of gaining that reputation. If Ferrari can make shit shit quality cars that have horrible performance while still being able to maintain their current reputation and sell cars for $300,000+, they would.

[J____]

Originally Posted by taylor192

I was having this discussion with a Realtor a couple days ago.

In Vancouver seniors can apply to pay less property tax, meanwhile in NYC if you cannot pay your property tax, the city forces you to sell.

So 2 very different approaches - which is better?

I contend that anyone sitting on $Ms of assets has no right to ask for a handout. It sucks to have to sell your home and move, yet any home west of Main St is worth > $1M and would go a long way toward financing a nice retirement.

Besides, we're all buying homes now as investments, we shouldn't be surprised to have to sell them one day to cash in on the equity.

it's not much of an investment if your house is your main and only dwelling. 10 years down the road it'll increase in value, but so is everything else, you sell it chances are you'll have to put that money back to buy another place or move away from the city.

[Carl Johnson]

Not related to this thread but too lazy to start another thread

so got this in the mail from BCIT, just great isn't it as if the parking fee itself isn't already high enough.


Subject: Tax on Parking - Important Notice
Date: Dec 17, 2009 2:21:10 PM

TransLink Provincial Sales Tax

The provincial sales tax (PST) rate on parking is increasing from 7% to 21% on January 1, 2010.

BCIT parking rates will be adjusted in compliance with this tax increase.

For details on rates at all BCIT campuses and links to more information on this increase visit: bcit.ca/parking

[ziggyx]

^^ Oh man I hope UBC doesn't follow up on that.. but I have a feeling they will too.

[hotjoint]

taxes, taxes, taxes and more taxes, its neverending.....

[q0192837465]

^ The great thing about taxes is that once they'r here, they'r here for good.