Monday, June 23, 2008

Taxes are 16% of homebuying costs

From Marty Hope of the Calgary Herald:

The situation hasn't changed since a CHBA study was unveiled in the late 1990s that showed, for instance, that about 16 per cent of the cost of a home in Calgary could be traced to various taxes, fees and charges.

There has been no repeat of that study, but doubtless the percentage hasn't gone down.

Not quite thumping the podium, but getting his point across, Hrynkow said there are a couple of areas in which government has to act:

- Indexing the GST rebate for new-home buyers to adjust for rising house prices.

- Government-imposed costs on new-home buyers.

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