Dwayne is (as usual) correct.
The taxes for a Canadian citizen that uses the property as their primary residence is a hell of a lot different than what a non-Canadian pays taxes for when they use it part time. It was built in the 60’s and owned by the family since then. They watched as their taxes approached 6 figures per year for something they maybe used for 2 months out of the year. During covid there was a proposal by the Canadian government to either increase or add an additional tax on non-Canadian owned property which would have pushed their tax liability to a solid 6 figures. They have money and likely would have kept their family cabin but not being able to access it at the same time as well as their taxes going up AGAIN encouraged them to sell.
My buddy was frustrated but he, like I, was of the belief that a country penalizing non-Canadians was their right and if the shoe was on the other foot we’d support it. It unfortunately forced their hand in deciding to sell the Canada cabins and acreage. They were just one family but through their taxes as well as all the money we all spent at the marina, stores, pubs, rental yards, restaurants, gas stations etc that money of theirs /ours ain’t coming back. They were prevented by some ordinance or law from renting their Canada cabin so when they weren’t staying there it wasn’t able to generate income and therefore it just sat empty. More druggies and losers were showing up on V.I BC and in the past several years had issues with burglars despite it being remote and in the woods so that became a concern too.
They rolled a part of the sale into a beautiful log “cabin” on Lopez island in the San Juan’s but at 5600 sq/ft it’s less a cabin and more of a big ass house. Even being taxed at the 4million purchase price their taxes are a fraction of what they were paying in Canada while never having to worry about being forbidden from utilizing their home. They also have it booked almost solid for 9 month of the year leaving June, July and August for family and friends. The difference in the costs and taxes of 2 places that are probably 50 miles (as the crow flies) from each other but in different countries are incomparable…..and incomprehensible. If Canada hadn’t become so despotic during the bullshit covid crap my buddy would still own the cabin and would continue paying the ridiculous amount of taxes while being forbidden from renting it to anyone else to help offset some of that blood money. I’m not sure how big of a swing their yearly costs have enjoyed but knowing what their big costs are I estimate their roughly saving/making, by a conservative estimate, over $110,000 each year more than when they owned the Canada place.
Government will surely extract its pound of flesh from the current owner but I GUARANTEE you that they aren’t paying anywhere close to what my buddy paid……they’re just one family.
