Toronto bracing for 10.5 per cent property tax increase
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- เผยแพร่เมื่อ 5 ก.ย. 2024
- Toronto homeowners could see a major property tax increase this year, as councillors look for ways to fill a $1.8 billion budget shortfall. Faiza Amin speaks with city officials on the changes.
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If City's stuck to the basics (roads, water, sewer, transportation, snow removal) instead of trying to satisfy every special interest groups demands, they wouldn't have to keep increasing the property taxes.
Ironically they don't even do the basic well at all anymore.
@@jay-sweets maybe if y’all didn’t throw tantrums every time the word tax is mentioned
Toronto is growing through a difficult adolescence…Patience and cash is required shouted the man in a brown derby hat!
@@audiovice2718 What else can ee throw? After tax, I'm too poor to throw a party. Lol all i can afford is to throw a tantrum
Yup…and she still wants to spend $12M to re-name a street and $14M to add 3.3km of bike lanes.
Only an idiot would spend money decorating the interior of their house, before fixing their leaky roof.
Meanwhile they are spending $$$$ on renaming streets and squares…. Why?
Lgbtqia2+++ demands it. Toronto ain't woke enough
You will own nothing and like it.
it’s about time all canadian including indigenous paying their fair share of contributions to this poor nation 😂
Because they vote for ex NDP
STUPIDITY AT ITS HIGHEST LEVEL !!! I HAVE O RESPECT FOR CANADA NOW.
I find it sort of funny that the mayor who campaigned on affordable housing is raising property taxes. And if you raise property taxes on rental properties what do you think would happen to your rent?
Exactly , yet the narrative of ndp and mayor has always been the property owners are the greedy bunch … they too have issues to cover cost ..
I don’t know how to tell you this but landlords are raising rent reguardless 😂 they were literally doing it with out the property tax during a pandemic. At least this way all the slumlord mf who really have no business being a landlord can sell their property and go get a real job. You wanna have Airbnb sit empty 150 days out out of the year then complain about homeless encampments. ion wanna here it. I think the tax should be even higher on Rental properties. In fact I think the government shouldn’t confiscate these properties rent them at affordable rates and collect the rent as a source of taxation so that you little parasites can pay even less taxes.
It was going to happen no matter who is in charge.
You can’t raise tenants rent more then the allocated amount for any older buildings lol
@@Funk1880how is that supposed to work? They are obviously willing to put this tax on the property owners
Good job Toronto voters
They voted liberal lol.😂😂😂😂😂 Liberal taxing
@@gereral1_jackofalltradesdo you believe there should be zero taxes?
@@BC_Geoff no course not. But Canada gives our tax money like it's water to whatever they dream up then say their budgets are short. How about live like normal Canadians and money coming in balances money going out. When you are out the answer in NO. This is why they are in trouble!
@@gereral1_jackofalltrades All municipalities have to have a balanced budget. That is why they are increasing taxes. Some things you can't just cut out of your budget.
@@BC_Geoff pay cuts, layoffs? We all face them, add more work to existing employees to reduce staff? We all go thru this
She campaigned on this. I'm assuming people wanted this when they voted.🤷♂️
People aren't that bright. They voted for tax increases then get surprised they increased taxes.
Exactly. Even her opposing candidates warned voters about her.
Yes it sounds like this is what Torontonians wanted! Good for them.
Agreed they has no one to blame but themselves. They know she will raise taxes like no tomorrow. Why don't they cut their paid by 16%?
escape Toronto for good😂
Now I don’t regret at all leaving Canada to another country.
Where is a good place to live internationally if you are leaving Canada?
You just asked my question..
Quebec?
So you write off Canada over one city. Good job👍
@@jb-vz4wb Somalia
Let's spend millions on renaming a town square
maybe lower the salaries and perks of the city councilers and mayor
never gonna happen
LoL not in ten thousand year6
A majority voted to pay for higher taxes when she said she was going to do it. Let that sink in.
There's no majority - less than 15% voted for her. We just have broken elections in Toronto - which is why this nobody populist who hasn't done anything in her life is our mayor.
That is the very definition of democracy. If the people wanted it, they got it.
That will also trickle down to renters. So making it expensive for everyone to live
they can only raise my rent according to guidlines
Remembering Rob Ford
Remembering Titanic.
Rob Ford can never be replaced.
@@andygrenn680 oh ok.
@@The_Crow78. Rob Ford should have a new Ontario Highway named after him.
Rob Ford Parkway…
@@andygrenn680 oh ok
Cut cost. Stop offering free services
Insane, who has money to pay this. And for what, crime up, the city is dirty and the parks are over run with campers. Unbelievable.
Everyone should just stop paying, let it fall.
Right! A game of solitary isn't fun.
That's what you get. Vote communism, get communism.
They need the money to change more street names. 😂
Let’s have a contest to rename streets…
EVERYONE SHOULD REFUSE TO PAY THIS INCREASE. ITS TIME THE GOVERNMENT LAYS OFF ITS EMPLOYEES TO REDUCE COSTS. SEND ALL THESE REFUGEES BACK. WE CANT AFFORD THEM.
We need someone who can lead and organize to achieve this
If you can’t afford it how about you leave 😂 that’s literally how it’s supposed to work
Watching y’all pathetically beg for a hand out as you blame refugees for your own short comings 😂 it’s so funny to watch you show no empathy towards refugees coming from famine, political violence and actual government corruption but you expect me to feel sympathy for you because their raising property taxes. You sound absolutely ridiculous to anyone with common sense. I seriously doubt you even own a home and this is really just your way virtue signalling to others who agree with anti immigration. Because ion the last time you seen a shelter but I can there’s a lot more Canadians citizens “whatever that means” in there then migrants. Why should I have any sympathy for you or any Canadian over a migrant? especially when y’all have these entitled attitudes you portray on to migrants. I see em sleeping in street just happy to be here but y’all are so lazy your literally want the government to pay your property tax by laying off public servants. Just make it make sense to me?
Toronto the compassionate city…
@@andygrenn680 my compassionate comment got removed. I got no patients, these mf throw themselves a pity party when their taxes get raised but have absolutely no sympathy towards other humans coming from famine, food desolate, politically corrupted, inhabitable due climate change country. Just happy to be here willing to sleep in the streets and they don’t even beg for handouts like bro over here. this mf wants to lay off public servants to pay his own property tax and then blame migrants when the infrastructure of the city crumbles. Like Nawh it if’s between civil servants and Colins properties taxes we afford you.
They’re are so mf quick to blame everybody else for their own inadequacy. I can’t even act like any validity to anything he’s saying. I’ll match his empathy he shows to these migrants. Acting like I’m supposed to gaf about his property taxes why cuz we were both born here. No thank you.
"you will own nothing and be happy" LOOOOL
Unbelievable...they have tons of money for anyone outside of Canada 😮
Or bring in more non-Canadians 😢
But definitely no breaks for us Canadian citizens 😮
Mayor Chow comes through with baskets of gifts for Toronto voters...😆😅😂
So why would the city do this at a time when people struggle to pay mortgage and food. This is nuts!
because they are wealthy and only pretend to care?
Economic migrants just flying into Toronto are not refugees.
Might have to cancel Disney+ after all..
How else are they going to pay the 10 municipal workers watching the 1 actually doing something
Why the city and the nation are so forgiving to the homeless and not the middle class ? There is no middle class anymore. Tax the rich not middle class. Middle class are the pillars of the “working” population. We work hard and don’t be harsh on us
Who are the rich? Homeowners? The mantra they created was so you would let them get the needed power to rob you lol. There is no group rich enough to tax to pay for all the reckless spending.
The rich made the middle class.
Spoken like a true Chow supporter, what makes you think the rich aren't being taxed ? Do you even pay taxes at all ?
If this is your take. When and if Pierre gets in he completely believes and supports trickle-down economics. Reach down deep into Ronald Reagans grave and ask him how that has worked out for the USA.
@@raybarton7725The US? The greatest economy in the world? The sane country who is expected to expand while we contract? The same country that has a GDP over 10 times ours?
We might need to reach in Reagans grave and elect him if that's who you credit for that lol
Best thing to do! Leave this city!
Go to Somalia.
“Sunny ways my friends, sunny ways. This is what positive politics can do.”
Everyone will pay more
This is the price they paid to vote for Chow. They has nobody to blame but themselves.
Doesn't matter. Any mayor in power would've proposed this property tax increase
@@jeffrey1411 guess thats your justification to vote for Chow?
@@MikeRepluk Nope, didn't vote for her. I definitely didn't vote for Trudeau either, but the GTA did unfortunately.
Canada is too expensive
How much is it?
@@The_Crow78.I dunno like $10K?
The price of citizenship has just gone up…
@@luketarplin Only $10K to buy Canada?
That's a giant increase
All due to packees 😂
And thus begins equality of outcome and wealth redistribution
I couldn't have said it better! 😑
I didn’t go that far in school to fully understand…
We are all the ones who are always calling for more spending. Ex. Gord perks. Do they know tenants will eventually pay for increased taxes. Where are the ones who wanted to change all the signs for Dundas st. Now they want someone else to pick up the cheque.
The city shouldn't pay to house Refugee claimants. The Feds brought them so the Feds should pay to house them.
In any case, the so-called refugee claimants are able to look after themselves. The ones I've met are financially ok.
Soon you will own nothing and be happy. Enjoy the bugs 🐞 🐛 🐜
Mass depoperation for climate change about to take full effect
The packees here will love it they eat that in India
@phillydisco packee are here to help inslave us
hahaha, you voted for her now it's time to pay the piper
😆😅😂
You do realize any mayor would've proposed this property tax increase. Toronto is in a deficit so unless they fire their workers and lower wages, property tax will only go up
@@jeffrey1411 when was toronto not in a deficit? my guess decades ago. part of doing business in a big city
I'd imagine that the tax increases over the years didn't keep up with the rising property value increases.
🙄
Property taxes are based off of a percentage of property value. So, if property value goes up, so does the collected tax. However, it can be said that property value assessments done by the city often do not reflect actual property value.
@@EugWanker They don't reflect actual property value at all. The disparity between the two is considerable.
If they did, nobody would be able to afford to live here...
@@DL101ca Prices would reflect that.
tenants, you ready to pay more?! you got this!
That’s insane! Taxes are already so high!
We will transfer It tax to the renter
This is how broke Toronto is. Vore in a socialist and get hammered. I lived in TO from 2000-07 and was paying $650 for a 2 bedroom basement apt when i left, betting its double that now.
Tripled.
Thats wild. Interest rates are up and so are taxes. Why would Toronto vote for this? When costs are high, it seems weird to add more costs.
More money for the government.
Because they're socialists
Hey post! get the narrative/reporter's audio on both sound way! don't make such low level mistake.
Jacking up the Property Taxes on Homeowners/small landlords will *Reduce the Amount of Rental Housing* since the Homeowners *cannot Increase the Rent as much as the Property Tax increase* which will *cause the homeowners to Stop Renting to Tenants* as it will be not worth renting to them which will cause an *Increase in Rents* due to *Less Supply* in the rental housing market.
I'm almost positive that they will be in no hurry to adjust the housing valuations to current market conditions
Everyone should just Boycott paying their Property “Taxes” for “2024”
This going to make our City of Toronto, go downhill even more, because people owning huge Monster Homes, or smaller bungalows will be “Renting” Out to even more people each month, and year.
Jamming even more people into these homes that aren’t made for it?
Our sewer system is going to explode big time all over the City of Toronto.
Our City of Toronto, if they were “Smart” they should be making home owner that do “Rent Out” to more then 2 people pay our City each year a fee’s to allow them to even “Rent Out” or to pay for how many extra people that are living in these homes.
Our City has no clue really to how many different people are in these huge Monster Homes or smaller bungalow’s each day or month, and year.
I have a few new owners on my block of Patricia Avenue in North York that have way to many people living in their house’s on my block.
They are running them all like hotels, and some are running Air B&Bs and they’re making a small mint on them all the time paying not taxes on the rent Monies coming in each month or year and years.
And then our City will have even more garbage and recycling to collect each day and week throughout the year, and they’re complaining about it right now.
The thing is that’s if City of Toronto, cannot fits pole holes, or Help the homeless get off the cold street.
This will not fit the problem of not having enough “Money” in their piggy bank either?
Our City of Toronto has always been Crying “Poor” maybe the councillor should be looking at how much they are getting paid, and then how much all of the City of Toronto, employees are making each hour, day, month and year.
I really cannot wait to move out of this city and move to a small town.
Toronto it’s been going downhill for years and years.
And it will continue too.
And the crime rate is increasing and getting so bad here every day, night, week, weekend, month, year and years?
Because the people that can sell and Move” out of this huge mess will, and they will be moving to a smaller community.
I read on the Internet that like 38.9 % of our population are moving right out of Canada to Spain, Portugal, and France because young people cannot Afford to Rent anymore here or buy a house in Toronto, or anywhere else in Canada.
And in those other countries they give huge taxes breaking to young people, and their land is cheaper to buy, and you get way more
proper then here.
And some other countries like the Cayman island don’t even have any taxes at all ( it’s all tax “Free”)
Like No income tax, no property taxes, no gas taxes, food taxes, absolutely no taxes it’s a tax rate haven.
And it hot and sunny everyday, and has no snow at all.
This is staight up bs! Property tax is high enough as it is
How much would they save if they scrapped that ridiculous idea of changing the name of Dundas St? 30 Million? What am I thinking? That was probably a basement level idea of the cost. Probably more like $100 Million. Add to that the cost of businesses that will change their name. Torontonians voted her in. Have fun.
Toronto is going to be like San Francisco . All business will move out and you will see people trying to sell to relocate outside Toronto. Their definition of cuts is not like normal families who budget. They need to cut everything but water sewer, roads police and schools. Everything else must be cut. Government needs to live like us slaves. I have a saying. If you ain't got no money, it an't funny, just charge it to the Visa,ta ta change it to the Visa 😂
LoL people vote for her and expect this going to happen. 😂
Wait, a left wing politician without anything resembling a coherent plan based in reality who promises the world is driving the cost of living up? That’s so strange. What an anomaly.
" Don't worry we'll close the economy for 2 years and nothing will happen !" .. every politician that endorsed covid lockdowns without looking for solutions and spreading fear...
Sad what we have become 😢
F.y.i. me and most of my coworkers had covid Dec 2019 as confirmed by Dr.
Everyone should have known . This is what you get when you elect an NDP
Why don't you tax exclusively the 'multiple' property owners? They're the problem. Not the common peoples. Anyone renting a property should be taxed. Any property left empty for over 6 months should be reclaimed by the government and sold to the highest bidder. They can apply to reclaim the funds.
How do you plan to deliver affordable housing if you tax providers of housing?
you make too much sense.
@@onlybeholder
You put the housing back into the hands of the people who can afford it and who need it, freeing up THEIR rental units. Which were more affordable and cost effective. SIMPLE.
You don't need to tax the corporations selling apartments as a business. Just the private property owners. You want to go into real estate renting. Join hands with others, create a business and own the whole building. not individual units or basement apartments. Buy a hotel or apartment complex or something.
Then you get legislated like the other corporations with inspections, laws and other official auditing.
By taking the properties out of the hands of real families you are purposefully reducing the amount of housing available for use. Increasing the amount of renters and reducing the ability of families to survive until retirement. All for a bunch of folks that don't need the money, or the properties, or the hassle of dealing with renters who end up squatting or being illegals.
As more people OWN housing, there are less renters. Less renters, mean less need for rental units. You're getting the same effect anyway with all the illegal foreigners skipping town...because guess what that's who was renting. No jobs, means no renters. You don't need more rental units without jobs to pay for them.
There are over 15k rental units in Toronto with nobody in them. Because they're overpriced and there are no jobs in this city to fill them. You don't put up houses when you have 15k of them sitting right there going to waste.
If a landlord purchases a property but cannot afford to offer a rental unit at an affordable rate should they be allowed to continue to hold an empty property? I say no. As does a lot of the community. If they are foreigners they should be forced to sell it. Its not making them money and they're not respecting our country. Its a crime against the community we live in.
Crazy commie....I can do whatever I want with the property I own....having the government confiscate property is just insane....move to North Korea if you want to live in a place like that
You know Mom and Pop landlords account for about 60% of rental supply, right?
Only 10.5% ? Torontonians deserve more....
Yeah!!!!! Toronto mighty city.
Toronto law abiding city
Tremendous
Can’t think of a city they deserve these fools just keep putting in these tax and spend politicians
Time to raise rent again
The price of roof has just gone up. Roof is an expensive cut of meat…
What I dont get : taxes are increased with property value anyway; they tripled in 30 years. Why need a % increase? And it's not like Toronto is investing much in infrastucture or throws new years eve parties like the real world class cities of the world .
Just say no .. what could they do if 1,000,000 stood their ground? ..
Cut your power off and no emergency service
To over 500 thousand homes? Right there is hindsight being 2020 that people are weak .. scared to stand up to the ones in control .
Another slap in the face of Torontonain who voted for her.
I don't live in Toronto,never will but I cried a little bit when I saw that tax hike today.
Move to Somalia then.
Tears don’t pay bills…
stop lying
@@MikeRepluk one trillion dollars…
Would be nice to have stereo sound on this video. Very odd that it is mono.
That’s costs more.
The city has become dump, couple of my friends have moved out of Toronto and are so happy.
On valentine's day they will break the hearts of the people with the suprise property Tax , that must be the game plan
I would cut the government's pay. I would cut the freelands pay and mister snake trudeau
Financial Terryism
Step down!
Torontos property tax was way lower than the other cities (with good reason as well), but since the feds and province have been cutting funds, property tax increase was needed
Recall her.
Why am i paying the consequences for government Incompetency. This Country is becoming a joke.
That is silly. That all was done before. That is what JT and Freeland doing now - a big problems for the next PM &Cabinet.
Great, people will pass it on to tenants.
you voted for this mayor, therefore you pay the price.
Thats what Toronto voted for more taxes.
At some point the three levels of government will tax the income in the area of 100%. The state will provide government housing, food banks, and free transportation to the place to toil for paying taxes. Now seriously, toronto local elections are atrocious...mayors elected with under 10% of registered voters.
That's called communism.
@tomdenk6334 doesn't matter what's called, this seems the direction
Expensive to get 0 service. What a joke !!!!
You get what you vote for 😂
Throw her on the homeless list,the whole crew at city hall.
Is Toronto saying the Federal CPI is wrong? OMG... say it is not so! (can we get a REAL cost of survival inflation rate .... please?)
What does she intend to spend the extra tax revenue on ?
Balancing the books to avoid the deficits, unlike Trudeau
@@jeffrey1411
I'll bet the farm she spends it quickly and foolishly making the deficit far worse
I don’t understand why you people of Toronto complain it’s all about your pride and LGBTQ 😂
What is "you people"??
You are a pride lgbtq people
Was there pride before earth science wind air water mother satan jesus god lord ??
Williamterryretard is a lgbtq people
This is wonderful news.
Gonna see so many blame Mayor Chow of course. I lay the blame on leadership before her tbh. Whatever the case i'm sure cityhall will cut services so the tax hike wont be that high... 16% would be pretty drastic
This doesn’t make any sense…..why would everyone pay for the refugee costs…..forgive me if I say it too bluntly….isn’t it that the refugee should take care of their own bills? Yeah, they are under some hardship or difficult circumstances, I understand, but is it really making sense that we should include their cost in the taxes? And for the deficit man, yeah, we are on the deficit, but we still spend millions of dollars to just change the name of the street…..no wonder Toronto is doomed..
I mean, do you want sympathy? Go rename another street at taxpayer expense.
Thievery
What a joke...on top of inflation ...yeah this is the icing on the cake!! Thanks Olivia for making this year a special one for all!! Heres to you Olivia🖕🖕
Glad I left Toronto
Nobody can afford to RENT. You need to find a way to get properties into the hands of owners and families who can afford the housing. We do not need to support a middle layer of foreign owners trying to stay in Canada without a citizenship, hiding out in properties, living off the working class. You need to get them out of the market.
If they can't find a LEGAL renter, because the costs are too high. And they can't afford to pay the taxes. Just take the housing from them. They're not going to be responsible....or follow the laws. They don't deserve favors.
If you find a boarding house of illegal migrants, if you find unpaid taxes over a threshold, if you find human rights validations or gross need for maintenance....if you find the property empty for over 6 months. All these should be grounds for removal from ownership from a foreign owner.
Police the transfer of titles. If you see an attempt to put property illegally into a foreign owners hands you have the right to take it away for trying to circumvent laws.
All the Indians ruined this country thats why they come here
So look forward to a big rent increase. You played yourselves, Toronto.
People of other nations like US, France, Australia would have rioted. But Canadians meeehhhh
I miss David Miller.
Stop spending our money!!!!!!!!!!!!!!!!!!!!!!!!!
you have to be a millionaire to own property in TO, so i dont see the issue, they can afford it
What's the Techno autocracy for 500
If the LGBTQ isn’t about the taxes how were they given money for the pride parade? 🤷🏼♂️
Do you have friends and family. I’m genuinely concerned. I see you in here ranting hate every single time I watch a city news videos. I’ll hop on the phone and debate you for the human interaction, If your just lonely.
@@audiovice2718 Let’s talk truth then who created the earth before people are here in the flesh or science?
@@audiovice2718 What are you a man a male in the flesh or a woman a female in the flesh?
@@audiovice2718 What’s the difference between man a male in the flesh and woman a female in the flesh?
@@williamterrymasters1934 iunno man this has nothing to do property taxes tho. I know there are roughly 2000 babies born annually in North America alone who don’t fit neatly into either category or genitalia “deformities” for lack of better words. Ask god to explain that one?
What is the message here when people are lining up at food banks, living in homeless camps any additional increases in taxes will send the message that Canada is broken and will further drive Canadians to leave for Greener pasture's.
Stop all the woke nonsense and is causing the city money, it is not worth the cost.....
GTA aswell?
Great... more people will be on the street. Tax increase doesn't solve any problems with rental crisis. Take a salary Chow along with all your counselors.
Suburbs pay more
Money ain’t here like before…Money ain’t here anymore. Never really was…No reason just because… Money ain’t here like before. Like before!
Leave Toronto!
Go to Somalia.