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NS
Real Estate Assessments Unfairly Targeting
Renters
- Single
family property tax assessments are capped
at 2.3% for 2008
-
Multi-family
(Apartment) property tax assessments are
not capped whatsoever.
- Apartment
assessments throughout NS are
up significantly
- Someone
living in Halifax's trendiest
and most expensive neighbourhood has
their tax assessment capped at 2.3%
while a family living in a multi-family
building can see their tax assessment
increased by 52.7%, or higher
-
The
NS Assessment Department classifies property
into three classes, residential, commercial,
and resource:
- Residential
includes single-family residences,
multi-family residences, duplexes,
apartments, condominiums, nursing homes,
seasonal dwellings, manufactured homes,
and some vacant land.
- The
only sector within the residential
class not included under the
cap is multi-family residences
(a.k.a. apartments).
- Amendments
to the assessment cap legislation have
been made to include Co-op Housing
buildings and Manufactured Home Communities
(land-lease communities or trailer
parks), but still multi-family is ignored.
The
Outcome...
- Those
who rent apartments will pay more for
their monthly rent!!
We
ask how is this equitable and fair?
- Those
who can least afford it (e.g.
students, those on fixed incomes, and seniors)
will end up suffering the most!
- Statistics
Canada states on average,
renters spend a higher
portion of their incomes
to house themselves
than do homeowners”
- The
two largest demographic of
renters are younger people
and retirees –Over
80% of people under aged 25 rent and
over 50% of people ages 25 to 34 rent. As
well, more than 30% of people
ages 65 to 74 rent and 40%
of those over
75 years of age rent.
Proportion
of Households that rent their dwelling by
age group, Canada- 1986 and 2004
Source: Statistics
Canada. Public Use Microdata Files for
the 1986 Family Expenditure Survey and the
2004 Survey on Household Spending
Do
something about it by calling your local
MLA
Click
here for contact information
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