Hello Taxman! Toronto raising property tax by 10-16% | Page 5 | GTAMotorcycle.com

Hello Taxman! Toronto raising property tax by 10-16%

Let's do some simple math - where I live municipal taxes average around $6K/year for a single family home.
If the city were to increase that by 10% that's an extra $50/month.
Stop at Timmy's instead of Starbucks and your problem is solved.
 
TK4 said:
Let's do some simple math - where I live municipal taxes average around $6K/year for a single family home.
If the city were to increase that by 10% that's an extra $50/month.
Stop at Timmy's instead of Starbucks and your problem is solved.
Click to expand...
The problem isn’t raising taxes, it’s raising budgets. Sure you can stop at Timmie’s to save $600 this year, but next year when it goes up by $650 again, where do you go for coffee?
 
TK4 said:
The city can't touch it.
When it was bequeathed a hundred plus years ago, it was in perpetuity but conditional that it never be sold.
There would be a sh*tstorm if they tried..


The NIMBYs have been awfully quiet lately....?
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The conditions also state that alcohol never be served. Give the restaurant a liquor licence and the land reverts to Howard's heirs and they can sell it.
 
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TK4 said:
Let's do some simple math - where I live municipal taxes average around $6K/year for a single family home.
If the city were to increase that by 10% that's an extra $50/month.
Stop at Timmy's instead of Starbucks and your problem is solved.
Click to expand...
Make your coffee at home and save even more and less time in line inside or less gas waiting in line outside. Decent coffee for $0.25 a cup.

For those with manageable mortgages it works. However inflation also hits groceries, clothing, fuels, home maintenance, insurance. $50 each for those adds a lot.

Been on the 407 lately? No? You could have your plate copied and be charged anyway.

Add in mortgage rates, especially those that went flex at the wrong time.

Then the adders for subscriptions, more places asking for tips and at higher rates.

Every special interest group wants more. The police are implying you'll be dead before they show up, if they show up.
 
TK4 said:
Let's do some simple math - where I live municipal taxes average around $6K/year for a single family home.
If the city were to increase that by 10% that's an extra $50/month.
Stop at Timmy's instead of Starbucks and your problem is solved.
Click to expand...
The concern is not just this year, but then next year they are back at the trough and it gets jacked up again, but now compounded.

Personally, if they said look we are going up 20% this year to fix the current problems and then we will hold steady for the next four or five years I would be OK with that. The caveat is they are politicians so of course I (we) cannot trust them not to jack them up again within that time period.

Also keep in mind Toronto has around $5.5B in the reserve fund. Now that is earmarked for future capital projects but at the same time it went up around $80M last year. We should not drain it but we could dip into it....
 
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Looks like it's set at 9.5%. Chow cut the increase by borrowing from the capital reserves -- simple political move that kicks the can down the road so taxpayers pay more later.

The whining isn't done yet, popo wants more, hail-mary to the feds on covering the $50K/person Toronto wants to spend on refugee support.
 
Mad Mike said:
The whining isn't done yet, popo wants more, hail-mary to the feds on covering the $50K/person Toronto wants to spend on refugee support.
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The Big Smoke still generates big bags of cash for the Feds, something like 20% of the GNP and has so far taken the brunt of refugees.
PM fancy socks better cough up or he'll be getting his wee-wee slapped in the next election.
 
Well they are saving a chit ton on snow removal. Zero snow here. I was out in a t-shirt around the house yesterday.
That should help that hole, or perceived one. Who the hell knows.
 
sburns said:
Well they are saving a chit ton on snow removal. Zero snow here. I was out in a t-shirt around the house yesterday.
That should help that hole, or perceived one. Who the hell knows.
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I bet there are little saving the contracts will be getting paid anyway snow or not

Sent from the future
 
TK4 said:
The Big Smoke still generates big bags of cash for the Feds, something like 20% of the GNP and has so far taken the brunt of refugees.
PM fancy socks better cough up or he'll be getting his wee-wee slapped in the next election.
Click to expand...
City of Toronto GDP is $171M, about 17% of Ontario, and about 8.5% of Canada.

I think you are confusing the Toronto CMA which includes all of this:

1706830394482.png
 
Scuba Steve said:
I bet there are little saving the contracts will be getting paid anyway snow or not

Sent from the future
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Yup - very much how gov operates, also understand we can't predict weather either.
 
Scuba Steve said:
I bet there are little saving the contracts will be getting paid anyway snow or not

Sent from the future
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Exactly. No different than me contracting ‚Hire the Gardener’.

I pay the same price whether there is snow or not.

Having said that, I believe the operators are CoT employees and it’s not contracted out.

So that means no OT, no fuel, no salt use. There should be some savings.

If it’s contracted out, no savings.

EDIT: majority is contracted out (5,780km of road, 7,400km of sidewalk, and 770km of bike lanes and major trails). CoT staff deal with a small portion of sidewalk clearing (1,460km).
 
POWERMAN said:
You called it:

www.cp24.com

Toronto council votes to restore full police increase, save windrow clearing as part of budget which will see 9.5 per cent tax increase

Mayor Olivia Chow's first budget was left largely intact when it went to council Wednesday, barring several key amendments, including a restoration of the police budget approved by the Toronto Police Services Board and money to save a windrow-clearing program.
www.cp24.com www.cp24.com
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Averages out at $336/year per household.
 
POWERMAN said:
You called it:

www.cp24.com

Toronto council votes to restore full police increase, save windrow clearing as part of budget which will see 9.5 per cent tax increase

Mayor Olivia Chow's first budget was left largely intact when it went to council Wednesday, barring several key amendments, including a restoration of the police budget approved by the Toronto Police Services Board and money to save a windrow-clearing program.
www.cp24.com www.cp24.com
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I don’t think any mayor / premier has the nuts to actually cut the budget. Hell even holding it steady for a few years is practically impossible.

The police union has the city / province by the nuts and there’s literally nothing they can do without the force pushing back in little ways.
 
Parts of the budget are impossible to hold , work trucks were 35k 5 yrs ago and now 50k . Everything is up. Where it’s nuts , Hamilton cops want a new marine unit boat with a helicopter pad. For the bay , where your never more than a mile from shore . The mounted unit in Toronto is well over a couple million bucks . They need 100 new hires because 10% of the force is off on leave . But we don’t want car theft going up .


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