Condo taxes

Found this very interesting analysis on the CONS website.

Are condominiums taxed fairly ?

Recently a member of the CONS executive obtained the tax assessments and estimated taxes payable to HRM of certain condominiums and apartments which were constructed adjacent to each other on a private road which does not receive any maintenance or snow clearing services from HRM. This information was provided through the help of Councilor Debbie Hum. The assessments and estimated taxes to be paid are shown below.

Originally all five buildings were being built as condos; mostly six floors, with one building of four floors. Some time during construction the developer decided he would designate two of the buildings as apartments although the units were built to the same standards as the condominiums adjacent to them.

There is then a chart showing the assessments and taxes on the condos compared to the apartments.

Table 1 shows that the two apartment buildings have an average assessed value of $6,675,200 per building, whereas the three condominium buildings have an average assessed value of $16,485,566 per building or almost 2.5 times the assessed value of an apartment building.

The average estimated taxes per unit for the two apartment buildings is $1373.23 paid by the apartment building owner. The average estimated taxes per unit for the three condominiums is $3388.23 paid by each condo owner, again 2.5 times more than the amount paid by the owner of the apartment buildings. [link to source]

CONS comments on the unfairness of this discrepency and vows to work on this issue to change the situation for condo owners. This is just as pertinent, we would think here in Wolfville, as it is in HRM.

We feel that the above inequities shown above need to be addressed, as obviously there is a great discrepancy between the assessments of apartment blocks and condominiums. In fact this discrepancy has been recognized and acknowledged in the Report of the Tax Reform Commission that has recently been presented to HRM Council. The goal of C.O.N.S. will be to insure that this issue continues to receive the attention it deserves and that the recommendations of the Tax Reform Commission Report are implemented. Condo owners can assist us by becoming familiar with the Report and let their councillor know their views on it.

If we owned a condo we would be supporting this organization and contacting them to encourage their work.

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