Image of the day: Taxes on new housing
Comparison of Vancouver, Toronto, and Montreal
Source: Government Charges on Residential Development in Canada’s Largest Metropolitan Areas, CMHC, July 2022. See Figure 7.
It’s like the carbon tax: the higher it is, the less you get. Same with housing.
In the city of Vancouver, Community Amenity Contributions are a major component:
Community Amenity Contributions: an explainer
·
Why is it illegal to build anything other than a single-detached house or duplex on so much land within walking distance of a SkyTrain station? A big part of the answer: Community Amenity Contributions (CACs). The city collects CAC revenue whenever it allows more housing to be built. Removing zoning restrictions means giving up a lot of CAC revenue, whi…