Taxes up again? So is your house

Homeowners profiting by increasing values of their homes

Editor, The News:

What has the city done to justify a 53-per-cent increase in taxes from 2007, writes Ian Strachan of Thornhill/Albion? (Letters, June 3).

The city has developed the area and likely doubled the value of your property.

Your taxes are based on your increased value of your home.   Just like if you got a raise, you would be paying more taxes on that.

While the value of your house may be increasing greater than your income – that simply means you are effectively getting more retirement wealth.

If you are retired and 60 years old, the B.C. government has a great plan that will allow you to defer your property taxes.

I find it hard to understand how people have gained thousands in wealth and then complain because they pay a few hundred more to keep it.

Dan Banov

Maple Ridge

 

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