Whats fair about retroactive double taxation?
” Finnigan warned that the Mayor is not content with taxing home buyers on a go forward basis but is planning to whack buyers who purchased condos long before he even dreamed up his misguided tax scheme. “The Building Industry and Land Development Association is fundamentally opposed to double taxation, particularly to a tax which targets one class of taxpayers (home buyers) to pay for services benefiting the entire community,” said Finnigan. Finnigan revealed that Mayor Miller clearly intends to retroactively tax approximately 25,000 home buyers awaiting occupancy of their new homes or condos. As proof, he cited additional motion 1A from the July 16 Council debate, moved by Mayor Miller, “to develop a land transfer tax rebate to all home buyers in the amount of up to $2,000 on the condition that the purchaser demonstrate to the satisfaction of the City solicitor that the purchaser and vendor entered into a purchase and sale agreement for the property prior to July 18, 2007.” “We were
