this post was submitted on 19 Jun 2023
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To fix the housing crisis, overhaul city taxes to incentivize building affordable units (www.theglobeandmail.com)
submitted 2 years ago by sbv to c/[email protected]
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[some company built] two-bedroom and three-bedroom stacked townhouse units in Toronto, selling for $500,000 on average. The city charged our project the full development charges of $30,000 per unit. At the same time, companies behind luxury condos in the city selling for $1.5-million were also paying $30,000 per unit.

Interesting idea. It doesn't sound like a silver bullet for the housing crisis, but it would be a step in the right direction.

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[–] [email protected] 2 points 2 years ago

Good point, there is a cost for hooking up a new building, but if you build something the taxes on that land will go up and likely recoup the cost.