@aserealty: The City of Toronto will be hiking property tax rates by 5.5% which is the highest increase since the city amalgamated in 1998. While the rate hike is dramatic, it’s important to remember that Toronto’s property tax assessments are typically much lower than the market value of the home #propertytax #torontohomes #torontorealestate #cityoftoronto #taxes #torontonews #greenscreen
The reason property tax is increasingly is because the province has cancelled a variety of developer fees to encourage housing construction - this was money that went directly to municipalities. This creates a major budget pressure: cut services or raise taxes. TL;DR Blame Ford
2023-01-14 20:10:51
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user3714071468035 :
Toronto has one of the lowest property tax rates in North America
2023-01-13 20:56:00
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VonZuben :
7%, no? 5.5% for the base property tax and 1.5% for the additional City Building Fund.
2023-01-13 21:01:09
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Random Person :
This doesn’t even match inflation.
2023-01-13 21:24:35
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Travelingmansonny :
I’m in Keswick 1.2 mill house 6k taxes no back yard
2023-01-14 13:13:08
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aktosp 🇨🇦 :
Duh. You don't pay low property tax because your assessed values are low.
2023-01-19 00:33:50
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aktosp 🇨🇦 :
You pay low property tax because Toronto is an old city and infrastructure is built compared to 905
2023-01-19 00:34:34
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