August 2016
Increasingly, new public spaces, including parks and trails, are paid for by new home buyers.
It is no longer correct to assume that public spaces are paid for with property taxes.
These recreational spaces are now funded, at least partially, with development charges paid by new home buyers. These spaces can include parks and pedestrian promenades.
Development charges are taxes imposed by municipalities, transit and school boards. They are paid by new home buyers to cover the cost of municipal services which include parks, sewer systems and roads.
