this post was submitted on 22 Jun 2025
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1/3 of the price of a new home in Canada is taxes, so profits for who exactly?
The answer is existing homeowners, which helps places like Toronto have one of the lowest property taxes in the world despite insane prices.
Do you have stats to backup that 1/3 price argument?
From my experience it was more like 5-10% cost was taxes
https://ca.news.yahoo.com/rescon-development-charges-lost-relevance-135507673.html
Thanks for the link, looks like that'll change drastically depending what city you're in.
Did a lil research and it looks like it would indeed be in the 10% ish range for my city, but yea sounds like it's too high in some areas.