Toronto’s mayor says this year’s budget is “just right,” but one critic argues failing to hike property taxes above the rate of inflation will make the city less affordable for everyone.
A 2.1 per cent property tax hike anchors the 2018 budget, which goes to city council on Monday. For an average homeowner, that amounts to about $81 more than last year.
Parkdale-High Park Coun. Gord Perks says he’ll push to increase that rate to generate more money that can be put toward city services from the TTC to recreation to childcare, even if it’s unlikely to pass.
“Right now, if you own a lot of real estate, the city of Toronto is a gold mine for you,” Perks told CBC Toronto.