Toronto

1625 readers

59 users here now

Toronto, Ontario, Canada

Friends:

Support lemmy.ca

founded 3 years ago

MODERATORS

[email protected]

Toronto city staff propose 10.5% property tax hike at part of 2024 budget (www.cbc.ca)

submitted 10 months ago by [email protected] to c/[email protected]

9 comments fedilink hide all child comments

Toronto staff are recommending a nine per cent hike to the city's residential property tax — the largest single-year increase since amalgamation in 1998 — as they look to fill a nearly $1.8 billion budget shortfall in 2024 and a grim long-term fiscal outlook.

With the recommendation of an additional 1.5 per cent increase to the city building tax, property owners could see their tax bill jump 10.5 per cent this year if the figures go unchanged during five weeks of scheduled budget debates and consultations.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 12 points 10 months ago

And in my experience deferred maintenance is often more expensive than incrementally maintaining something on the reg.