4% Property Tax Hike!

Monday, February 9, 2009 Labels: 0 comments



I'm sure everyone is well aware of the proposed new budget, and I know we all have our opinion and thoughts about how "well" our current mayor is doing. Now before you read the proposed budget here are my thoughts. First poor budget-ting can't be solved by tax hikes only, with the boom of condo and housing developments over the past few years this should be more than enough to run the city without a budget shortfall, If this city is short of money now and feels the need to raise taxes on our properties by 4% then we are in real trouble in the years to come as our city continues to crumble. And last and not least, given the current state of our economy, isn't it a little preposterous that our city councillors are giving themselves a 3% raise (due to inflation) one month and then a property tax hike of 4%the next?



Recommended Read:

Globe and Mail:4-per-cent tax hike expected for Toronto homeowners

A likely 4-per-cent property-tax hike for Toronto homeowners, a smattering of new services and some new user fees are among the measures expected in the 2009 city budget to be unveiled tomorrow.

With residents rattled about the sagging economy, rising unemployment and plummeting home sales, the spotlight now turns to city budget actions by Mayor David Miller and his council to blunt the recession.

"It's a new order, a new reality and a new set of circumstances," said Toronto Board of Trade president Carol Wilding of the task facing city hall. "So it's not business as usual and a budget can't be built that way."

Today, as a prelude to tomorrow's rollout of the estimated $8.6-billion budget for day-to-day operations, Mr. Miller is scheduled to announce city efforts to give residents and businesses easier access to programs and services to help them weather the downturn.



CTV.CA: Toronto expanding programs to help job seekers

"The programs will allow the City of Toronto to leverage what it has to deliver the services and programs our community needs now," Miller said.

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