2007-02-07 19:06:51 · 4 answers · asked by FrankInDeed 1 in Business & Finance ➔ Taxes ➔ Canada
All municipal taxes in Ontario are based on "Market Value Assessment".
Looks like your home has a high market value.
2007-02-08 10:12:23 · answer #1 · answered by Jack 6 · 0⤊ 0⤋
There isn't. It is the same amount of property tax on the house whether it is the principal residence or a rental unit or vacant.
2007-02-08 04:39:36 · answer #2 · answered by customtecfire 2 · 0⤊ 0⤋
I would suspect that it has a lot to do with your Social Welfare system. You have to support it somehow, and with your income tax already so high, taking more from you will leave you with even less to spend. By taking it from those who own property, the government is assuming that, since you can afford your own place, you can afford to help someone else with their's.
2007-02-07 19:16:55 · answer #3 · answered by narrfool 3 · 0⤊ 1⤋
Good question.I'd like to find out too.
2007-02-07 19:13:33 · answer #4 · answered by greβ 6 · 0⤊ 0⤋