08-16-2018, 09:27 AM
(08-15-2018, 11:32 PM)panamaniac Wrote:(08-15-2018, 09:29 PM)tomh009 Wrote: Right. So if the owners of vacant land don't want to build, or sell at a reasonable price, developers will redevelop existing properties.
Me, I would like to remove the property tax discount for vacant land, to remove that disincentive to development. (The latest Economist goes further, proposing taxation based strictly on land value, and completely exempting the buildings themselves. With this idea, land would be taxed exactly the same whether it has a parking lot or a condo building.)
Is there anything that prevents an Ontario municipality from doing so?
No. Here are Hamilton's tax rates, as an example.
https://d3fpllf1m7bbt3.cloudfront.net/si...-rates.pdf