Toronto sets property tax increase, but critics fear it’s a fairy tale

The average Toronto homeowner will pay just over $2,900 this year in property taxes, city council confirmed Monday.

While some councillors, led by Councillor Giorgio Mammoliti, called for a 0% tax hike this year — and others following Councillor Gord Perks — wanted a 4% hike, the actual increase was 2.1%.

Toronto adds a City Building Fund for transit and housing, and other tax shifting measures, to the tab which brings the increase to 2.9%, not counting garbage and water which are billed separately by the municipality.

There was no property tax increase for apartment and condo dwellers.

Mayor John Tory compared the budget to the Goldilocks and Three Bears bedtime story, saying that there were those who wanted the city to spend more and others who demanded more belt tightening, but he thinks it’s “just right.”

 

Toronto sets property tax increase, but critics fear it’s a fairy tale

Leave a Reply

Your email address will not be published. Required fields are marked *