New condos oakville . The new Toronto proposal limits some property tax increases to 10%. A new proposal backed by Toronto Mayor Trang Deli would limit property tax growth for businesses and multi-household units to 10% in 2018, regardless of whether a property’s valuation increases or not.
The bill will be considered later this month, and more and more Yangjie companies are worried about tax growth.
If the proposal is eventually approved by the council, the city of Toronto will limit property tax increases for all commercial, industrial and multi-family units to a maximum of 10% in 2018.
Wang Hongyu explained, “when a house doesn’t have a kitchen, it can’t be called a house.” On one occasion, the buyers and sellers of the house who came to me for a loan had some kinship, and the two families had already discussed that before the offer, the buyer would take over and start decorating while the summer weather was warm. The people at the bank went to evaluate it a little late, but when they arrived, they found that they had already started construction ahead of time. At that time, the kitchen was gone (the interior of demolish and tear down), was demolished fiercely, leaving only plasterboard wall (drywall) and shell, and the rest was gone. Although the bedroom structure is there, it is almost impossible to tell where is on the first floor. When we helped them to make loans, we approved them according to the mortgage, but after the evaluation report (appraisal report) came back, it became a loan (loan), with interest as high as 6: 00. When interest rates were cheap. “
Wang Hongyu said that this kind of loan is another product owned by banks called HELP, and each bank has a different name. “this HELP can lend up to 65 per cent of the (land value) value of the land to the applicant. In other words, in the evaluation, the value of the house is relatively small, only 35% at most. At that time, my guest borrowed less than 65% in this case, because the amount he asked for was very small. In fact, this situation is tantamount to no house, only land. This kind of loan is not a house loan, because the house loan is secured by the house, which is the most basic principle. So there is no specific interest rate for this product called HELP loan, but generally speaking it costs at least 6.5%. “
The reporter immediately proposed to Wang Hongyu that for the 890000 houses sold and unfinished in the case, if the buyer took over a loan from the bank, whether he would get a loan (loan) or (mortgage), Wang Hongyu said that it all depended on the evaluation report. “the reconstruction project is neither a project loan (construction loan), nor a personal loan (personal loan) related to real estate mortgages. This case is not a refurbishment (Flipping house), because the refurbishment has to be done. “
