Council approves recommended property tax increase
Later this morning, round two of budget talks will get underway at City Hall. Toronto City council approved a 2.75% property tax increase On Tuesday.
The increase includes the already approved 0.5% levy for the Scarborough subway and comes to a total of 3.2% when adjustments for the current value of property is factored in. All in all, the increase will result in the average increase of $83 dollars per household per annum.
There were differing opinions on the chamber floor however regarding the tax hike, with Councillor Gordon Perks calling for an even greater increase to prevent the city from having to borrow from itself to cover the deficit caused by the withdrawal of provincial funding. While former Mayor Rob Ford sought a reduction in the proposed tax, calling for an increase of 1.99% only.
At the end of Tuesday, the council voted by a majority of 38 – 6 to stick to the original plan and introduce the increase of 3.2%.
Mayor Tory’s executive committee already approved the almost $10 Billion operating budget last week.
Prior to the budget debate, The Mayor also spoke on his first 100 days in office and talked of his accomplishments like cracking down on traffic congestion, securing sponsorship to keep skating rinks open until March break and allowing kids under 12 to ride the TTC for free.