2.1 PER CENT TORONTO RESIDENTIAL PROPERTY TAX HIKE APPROVED

Feb 12, 2018

By Michael Kramer

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TORONTO CITY COUNCIL HAS APPROVED A 2.1 PER CENT RESIDENTIAL PROPERTY TAX INCREASE – MEANING THE AVERAGE HOMEOWNER WILL HAVE TO COME UP WITH AN EXTRA $81 DOLLARS A YEAR.

A MAJORITY OF COUNCILLORS GAVE THUMBS DOWN TO MOTIONS TO INCREASE THE RATE TO 2.9 PER CENT – AND MAYOR JOHN TORY TOLD REPORTERS THAT THE 2.1 PER CENT RATE HITS “THE RIGHT SPOT.”

KEEPING PROPERTY TAXES AT THE RATE OF INFLATION WAS A CAMPAIGN PROMISE FOR TORY.

 

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