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Non-Tech : Kirk's Market Thoughts
COHR 139.28-0.5%Nov 14 9:30 AM EST
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To: Kirk © who wrote (14974)12/22/2022 10:10:18 PM
From: Sun Tzu  Read Replies (2) of 26510
 
>> Then we limit the maximum gain in taxes each year to inflation or 2%, whichever is lower.

That sounds terrible. It pretty much guarantees that the city goes down the sewer and won't be able to afford any improvements.

This is how it works here. An independent company assesses the value of your property. They are a separate entity and have nothing to do with tax policy. Their job is to just say what your fair value is. The city decides what the taxes will be as a percentage of the property value. Densely populated areas typically have taxes in the range of 0.5% (give or take) because they can leverage economies of scale. Suburbs are ~1% and rural areas vary. This is just the ballpark. Every city sets their taxes based on their own needs.

Our city had accumulated over a billion dollars in savings. And now they have put it together with the neighboring towns and the province (state) to build an interlink train service connecting 3 downtown areas. As a result the property values will be going up and the businesses will do better and the traffic will be much reduced.

I have lived equal amount of time in the US and Canada. On average, the Canadian taxes are ~3% higher than the US. But boy is that money well spent. Our cities are clean. Most public schools here are on par with the average private school in the US. There is no abject poverty or gang ridden neighborhoods (minor exceptions). Not even close to what I saw in SFA, L.A, NYC...and BTW, nobody has to spend their life savings on medical care because they lost their job or declare bankruptcy to get healthcare. Again, not perfect - lots of issues, but for 3% extra money, that is money well spent.
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