Canuck Post ®

Homeowners awoke to find they’d had double their normal property taxes withdrawn CBC.ca Some Torontonians awoke to a nasty surprise Wednesday morning — the city had taken an extra $87-million in property taxes from homeowners’ accounts. More than 44,000 property owners were affected by the mistake, which double-billed those who signed up for the city’s twice-yearly and bi-monthly authorized payment plans. The city learned what happened when residents began calling about their much emptier accounts, according to the head of revenue services. Computer glitch bills thousands twice for Toronto property taxes   The Globe and Mail Toronto taxpayers double-billed on property tax after pre-authorization snag   Globalnews.ca Should you be surprised? You shouldn’t.

The Chinese have been #1 investors for Canadian real estate … Nothing new. Instead of slowing down after the infamous Vancouver Foreign Buyer Tax, they come in greater number as if apocalypse is going to land in the Middle Kingdom soon. The momentum continues, home prices keep going north, millenials remain in the same doldrum as far as housing affordability is concerned. Now what? The more the merrier? Chinese inquiries in Toronto, Montreal, Calgary real estatespiked with Vancouver tax CBC.ca Inquiries from China for property in several big Canadian markets spiked in the months after Vancouver introduced its tax for foreign buyers, according to a report based on data from a top Chinese foreign property website. The report, released Tuesday by Sotheby’s International Realty Canada in conjunction with Juwai.com, said Chinese inquiries for listings in the Vancouver market slumped by 81 per cent year over year in July 2016, the month the 15 per cent tax was announced.