Condo Owners Association, COA needs your suggestions for ongoing issues relating to Condo Owners, the Condo Act and new improved standards on building requirements for condominiums. There are a number of influences effecting increases on maintenance fees. Studies COA has conducted relate to the negative impact of the HST on the operating budgets forcing condo fees to have an estimated 8% increase to cover standards costs which would generally only have had a 5% GST related tax. There is also constant concern on Tax assessment and the increasing Tax dollars for condominium units. When you consider that condos are being assessed the same percentages as single family dwellings and the same mill rates apply; the question is… Is this structure acceptable to condo unit owners when you consider they have no land value attached to their unit values.
We would appreciate your blog to identify these concerns as being key issues. COA is moving forward in your condo community with positive impacts and changes ie. the Condo Act. There are well over 1 million condo owners in Ontario and the majority are located in Toronto. Our united voice can make positive changes for all condo owners.