Derek Lobo was recently interviewed by Steve Paikin on TVO’s The Agenda about a little-known disparity between municipal taxes charged to homeowners and residential tenants in Ontario.
It’s widely believed that only property owners pay property tax but it’s actually not true, and in fact, renters sometimes pay more property tax than those in single-family dwellings. They just pay it in their rent.
As one would expect, even though it is the landlord who pays the tax, these costs trickle down into higher rents for tenants. If taxes imposed on building owners were not so high, then tenants would likely see a lower rent being charged to them.
Read the full RENX article here: