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The good news is that Port Coquitlam homeowners are expected to pay less in property taxes this year than the city had initially planned.

 

 

The bad news is that the same taxpayers may have forked over more than was necessary in 2012.

 

 

A review of council’s approved funding decisions conducted by the city’s finance staff found that a planned infrastructure reserve transfer was duplicated in this year’s financial plan.

 

 

(The infrastructure reserve, established in 2010, has collected 1% annually to address the gap in funding needed to replace aging roads and facilities.)...

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THE REALTOR IN Rajiv Pandey shows, even on the election-campaign trail.

 

When knocking on doors in Vancouver-Fraserview, the B.C. Conservative candidate talks about one other thing aside from typical issues like education and health care: the property transfer tax. Even though his party hasn’t taken a stand on the levy, Pandey tells voters that he wants to see this tax reduced.

“As a realtor, I’m totally opposed to it,” Pandey told the Georgia Straight in a phone interview.

The Real Estate Board of Greater Vancouver has also identified the reduction of the B.C. property transfer tax as its top issue in the May 14 provincial election.

Introduced in 1987 by the government...

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VANCOUVER, BC – May 1, 2013 – In a recent Ipsos Reid opinion poll, 58 per cent of respondents agreed that the Property Transfer Tax (PTT) places an unfair tax burden on home buyers relative to other segments of the population. Twenty nine per cent disagreed, and 13 per cent had no opinion on the issue.

The poll also found that 51 per cent of respondents believe the provincial government should adjust the way the PTT is calculated to reflect price changes in the housing market over time. Of the 854 respondents, 26 per cent did not believe the PTT should be adjusted to reflect inflationary trends in the housing market and 23 per cent had no opinion.

Ipsos Reid conducted the poll on behalf of the Real Estate Board of Greater...

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VANCOUVER, BC – April 23, 2013 –  BC voters head to the polls on May 14 and the Property Transfer Tax (PTT) is a top election issue for the Real Estate Board of Greater Vancouver (REBGV).

 

The REBGV has launched a campaign to raise voter awareness of the need for the next government to reduce the PTT.

“Our goal is to send a strong message to this year’s candidates that it’s long overdue for government to reduce the burden of the PTT on home buyers,” Sandra Wyant, REBGV president said.

To support this campaign, people can “like” our Facebook page at facebook.com/helpreducethepttTo learn more about the PTT and its implications on BC home buyers,...

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BC Voters go to the polls on May 14, 2013 and once again the Property Transfer Tax (PTT) is a top election issue for the Real Estate Board. The PTT is charged on the sale of new and resale homes at 1% on the first $200,000 and 2% on the remaining value of the home.

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Real estate agents' fees for home-sellers will also be lower under provincial sales tax regime

Tue Mar 12, 2013 12:01am PST

 

Most B.C. residents will reap no tax savings if they postpone buying a home until the provincial government officially eliminates the harmonized sales tax and reinstitutes a provincial sales tax (PST) on April 1.

 

 

Homebuilders are hammering away at this message in an attempt to eliminate confusion among consumers, who wrongly believe that they will save tax if they wait to buy a new home.

"Builders are frustrated with the confusion in the public," said Bob De Wit, who is CEO of the Greater Vancouver Home Builders' Association. "It's a complicated issue."

Cost savings on the purchases of...

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