05-17-2016, 09:20 AM
(05-17-2016, 09:10 AM)mpd618 Wrote:(05-17-2016, 08:08 AM)panamaniac Wrote: I've often wondered whether the City couldn't implement a municipal tax regime that would discourage developers from leaving urban lots unredeveloped for long periods of time?
I'd guess the province doesn't currently give them the power to do that.
No. The rates actual are different for vacant land, that is most certainly allowed, and different based on the zoning. But the problem is that the rates are lower for vacant land, and on top of that the property value is lower without a building. I would like to see a property tax rate of 2x or 3x normal for vacant land within the downtown core, which would discourage parking lots and abandoned land.
https://www.kitchener.ca/en/resources/20...es_web.pdf