11-20-2017, 10:19 AM
(11-20-2017, 10:15 AM)greybird Wrote: Or they'd complain about how they have to pay higher taxes now that their property is worth more.
Now this is actually a real complaint.
It's possible to drive someone out of their home through increased property taxes in a desirable area. Being cash poor but house rich is increasingly common in Toronto. Your house may increase in value, but to really access that, you need to sell (or reverse mortgage), which will absolutely feel like a loss.
That said, I'm not sure Preston will see such a dramatic effect for a long while.