2.5 PERCENT PROPERTY TAX INCREASE RECOMMENDED FOR 2014 TORONTO BUDGET

Nov 25, 2013

By Jane Brown

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Staff at Toronto City Hall are recommending a 2.5 per cent property tax increase for next year.  Budget committee members are beginning to discuss the projected budget for 2014. And it’s shaping up to be a campaign issue for Mayor Rob Ford. He told the committee that his powers have only been taken away for one week and what he called the “tax and spend” ways are returning to city hall.  Ford is calling for no more than a 1.75 per cent increase.

But Councillor Shelley Carroll countered that, when the Scarborough subway was voted on in the summer, Ford had no problem with increasing taxes more than two per cent to fund it.

Ford has no standing at the budget committee. Deputy Mayor Norm Kelly tells CP24 the process of developing next year’s financial plan will take some time.  “It’s a process that takes two or three weeks,” he explained, “but if everyone is rational and reasonable, then we should have a good outcome.”

A 2.5 per cent increase would add $64 to the average property tax bill. Thirteen dollars of that would go to pay for the Scarborough subway.

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