Comment 30004

By A Smith (anonymous) | Posted April 07, 2009 at 19:34:06

UR >> Do you really believe that the only reason people don't improve their homes is because they fear an increase in its assessed value?

In Hamilton, if you spend $10,000 increasing the value of your home, you decrease your net income by $165. In Burlington, if you invest the same $10,000, your net income drops by only $110. Therefore, what community is less likely to want to invest in the upkeep of their homes?

>> If I lived in a house that was close to public transit, schools, green space, markets, etc., then I'm much more likely to stay put and spend the money to upgrade my existing home rather than moving.

Hamilton and Burlington have similar levels of public services and yet more people would rather live in Burlington than Hamilton. How do you account for this?

>> It will take time for the property values to rise enough to offset the original drop in tax revenue, if it ever does at all.

Even if that's the case, so what. Property values reflect consumer demand for living in a community, so if property values rise when tax rates are dropped, it shows that people actually want lower taxes and not more government services.

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