TRREB Statement on Vaughan’s Reduction of Development Charges
· Financial Post
Development charges are a major cost embedded in the price of new homes. Vaughan's action can make a meaningful difference for homebuyers by reducing City development charges on a new low-rise home by up to $50,193 during the exemption period. Just over a year ago, those charges stood at $94,466, before Vaughan reduced them by almost 50 percent. Reducing these costs improves project viability, helps move approved developments into construction faster, and can support more attainable home prices. Read More
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