Tax preparation by agrilifetoday
Toronto council put stop to property tax increase, which was about to take place this year. Counter-proposition against major Rob Ford's tax freeze was suggesting 0.16% growth in residential taxes and 0.052% in non-residential taxes.
Buying Your First House:
Getting over the hurdle
Getting over the hurdle
Ford also promised to repeal the unpopular land transfer tax, and made this promise one of the landmarks of his campaign. However, it seems the tax will remain at least until 2012. This tax, which adds several thousand dollars to an average home price, is important source of revenues for the city's budget. With expected deficit of $774 million in 2012, repealing any tax will be difficult decision.
Besides property tax freeze, Personal Vehicle Tax was completely terminated since January.
