Taxing home builders, one idea to fund new school construction
Posted May 3, 2016 05:17:25 AM.
This article is more than 5 years old.
The latest enrolment forecast for Waterloo Region’s schools predicts a significant jump over the next 15 years.
That has local school boards trying to figure out how to fund the construction of new schools.
One idea is to tax home builders and developers to the tune of $212-million.
It’s estimated that would add close to $2,800 to the cost of a new home.
That does not sit well with the Waterloo Region Home Builders’ Association or the Greater K-W Chamber of Commerce.
Chamber vice-president Art Sinclair tells today’s Record, “That’s a pretty significant jump,” adding, “These are charges that eventually get passed on to the buyer.”
Home Builders’ Association vice-president Kevin Fergin agrees, telling the paper, “We remain concerned that this increase further erodes housing affordability for the new homebuyer.”
The latest forecast suggests between now and 2031, enrolment will jump from around 84,000 students to over 111,000 students.
