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New “School Tax” – Do We Know What It is?

The NDP government has announced a new School Tax as an add on Property Tax.  This proposed “School Tax” when looked at is really going into general revenue and isn’t actually a tax for School funding directly.  Taxes would be paid on homes with values of over $3 million dollars. This is  unique and wealth based tax not seen in yet in North American tax domaines.

 

Author- Nicola More – Real Estate – Royal LePage.

Nicola is a residential Realtor® in the Lower Mainland. She lives on the North Shore but has extensive knowledge of Westside, Downtown, North and West Vancouver neighbourhoods.

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