The city of Toronto is trying to find ways to get extra cash and they are doing it via cuts. By ‘cuts’, of course, I mean cutting services and/or cutting staff. They are looking at stopping the daycare subsidies, and buying out 50,000 city workers.
Toronto property taxes are too cheap. Pickering property taxes are too expensive. Other cities around the GTA are somewhere in between. Increase property taxes. A lot. I’m serious, hit residents with it and keep all the services. In fact, up the services. The average Toronto home could take another $1900 in annual taxes before it gets in the neighborhood of a similar Oshawa home.
If the whiners in Toronto don’t like it, they can move. But it’s all about supply and demand and right now the demand to live in Toronto is high. The housing market sees it. The oil companies see it. Every industry sees it and as such the prices in Toronto are the highest in Canada. The taxes should be, too.
Raise the taxes and those who can’t afford to stay there will move away. This will then settle the housing market down. In the meantime, the extra $1900 per property would solve all of city council’s problems. All they need, as a collective, is a set of balls.