Toronto Is About To Get a 10.5% Property Tax Increase
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- Опубліковано 24 чер 2024
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It is a fresh of air to hear both sides of argument from a same person. Great video. Keep it up!
"You'll own nothing and you'll be happy" , well , it's looking like the plan is in full swing. First they sent real estate prices out of control , now they're going to do the same with property taxes.
We built a shit tonne of condos that cost the city zero dollars. Its all pissed away ffs!!
The biggest reality people can’t seem to swallow....this is as good as things will probably ever be in our lifetime, things will get worse progressively
Capitalism is a experiment. All empires fall eventually
Property taxes increase that’s what they do…the real concern in Toronto is bed bugs and cockroaches too…
Rents in Toronto will increase proportionally. 😢
it is certainly inflationary and will definitely get passed on to the tenants. Sad. Poor management from the lefty commie city hall peeps
Good! F them voting matters
I don't feel sorry for the torontonians. They did vote for it and they were alerted
Not me, I didn’t vote for her
People did not vote. Thats the problem.
Toronto has very low property tax rates. What is the issue?
Every year in canada higher taxes, less productivity, lower living standard, more socialism, bigger government, less rights to land owners.
The next decade is going to be a difficult one in canada. Maybe time to start investing abroad?
For what it is worth, I wrote to my city councillor.
that is worth less than the new value of the inflated dollar
We all should don't know how far it will get us
people Relax. you not gona feel a 11% increase in property tax. This is just hype.
Well, TOm there is a storm outside, so you are it for now.
About time.
shocked my property tax released today was 50% of what I paid last year.... unsure if it's related to the decreased value of my property but I expected it to increase (2+2, GTA condo)
Where do you find the tax releases?
What are you talking about?? They haven’t released the official city of Toronto taxes yet and no they have not factored any price decreases in yet… The value assessments often go back to 2016
They should increase more this property tax and eliminate the double landing transfer taxes. It would make it more fair with other municipalities, also with lower property taxes, it benefits more the rich that already has multiple properties. The city relies a lot on millennials trying to enter the market, taxing them more, than taxing who has benefited from low property taxes for decades
it benefits the renter actually, the landlords place rents based on making a profit. If costs are less so are rents. No one seems to get this lol
@@DummMoney-rr1fi As a landlord I would charge as much as the tenant would pay, the tenant will pay what they are able to. If you have your property payed off, you wouldn’t charge less because of that. If that was the case, every property in Toronto would cash flow because the landlords would rase rents accordingly
@@DummMoney-rr1fi This is ridiculous. It's more of a profit to risk calculation. Landlords will charge all they can expect to. It has little to do with expenses. What benefits the renter is having more options, so landlords actually have to compete.
Lol New Year’s resolution to pay more tax
Olivia Chow did as she promised and she is very transparent. I support her. Toronto property tax needs to catch up. it is too low. don't matter you like or not.
Real estate taxes are not identical to property taxes. You should be clear on the differences. Real estate taxes should be tied to service expenses, not tied to home prices. Some cities are using increasing real estate values as a windfall opportunity to increase revenue. City governments are not for-profit corporations.
Why would anybody vote for this?
This is a Canada wide phenomenon. Nobody voted for this.
Well you see.. generally speaking...people are dumb
So, how much of this money is going towards the $10 Billion pay off for The Robinson Treaties of 1850 ?
And how much will the natives charge Ontario Tax Payers for RENT of Ontario from now on?
This is f@cking insane!! This will just get transferred to rental tenants.
truth. Lefty Commies don't ever look at any Econ 101 charts. Landlords only buy properties based on fact and ROI. We all know who should be running this ship and it isn't who currently is.
That’s the NDP when you vote them in. An increase in tax is the inevitable, like what happens when inflation happens.
they actually don't know that all this causes inflation because the educational bar to vote or run as an NDPer is really low
@DummMoney-rr1fi doesn't really matter if its inflation or taxation - people have less money in their pockets and their quality of life decreases because taxation doesn't make their lives better. Nor does it save the environment.
Less tax equals more money to spend. Lower rates equals more money to spend. What do you think is going to happen in the near future? Def lower rates, maybe lower tax if PP wins
@@epictetus3406Thank the tories who sprawled Toronto and made infrastructure and services cost more.
If the city is running a deficit running things normally it means costs are too high. Toronto doesn't get enough tax revenue because of how terribly managed the land has been over 70 years.
@@DummMoney-rr1fi You don't understand how to run a municipality. It is quite evident that this was inevitable across Canada. And it is happening across Canada. Cities cannot afford their infrastructure because they don't get enough tax revenue per km of land.
Density is needed, or else services will be run to the ground, or the citizen will be taxed away.
U forgot to mention that the tax hikes includes her raise of 3.5% increase of her pay and her croney staff. How is that fair. They should forego her raise for the next few years as it isn't fair to the consumers 😢😢😢
Average rate of inflation for 2023 was 3.9%, so they are effectively still taking a cut. Just because they are city employees doesn't mean they should see their wages disappear to inflation.
Good long-term? Seriously?for who bringing olivia chow In what did you expect they got raises didn't they what a mess
This isn't because of Olivia Chow. Cities across Canada are increasing rates due to increased costs. You're an ignoramus.
It will be good for rental prices long term.
Cut costs and services instead so simple layoff city staff and TTC running empty buses on 24 hr routes
When you cut transit you get less people taking it, more traffic and more costs. Transit makes cities money, and keeps everything running smoothly.
You aren't an expert, so of course you don't understand the monetary value of services.
I guessed we were going to get a rate increase but not 16.5%. Toronto City Hall needs to look for efficiencies by twenty percent per department. this means lay offs if required.
Instead of running the city to the ground as you suggest why doesn't Toronto work to actually make services more cost efficient? Toronto suburbs are sucking the city dry. They need to pay up, or get developed so the districts can pay for their services.
Historic mistakes of keeping property taxes very low are hurting now. Toronto is running on old infrastructure which needs upgrades. Adding to that the city is giving a lot social work to help poor people which would obviously cost more.
What Toronto needs is more density to keep taxes low. Taxes are higher for the individual because there are less people paying into it.
Only half the population doesn’t like you? More like 63% that didn’t vote for chow
only 18% of the population actually voted for Doug Ford..... record low turnouts get the worst people elected.
Just tax people that own multiple homes, more and more for every house they have. Oh, wait that would make 90% of politicians to pay more tax nevermind
that would also just increase rents more. dummm idea
@DummMoney-rr1fi lol, how it force corps to sell and home prices to drop. That and the fact rent is already near its highest point before tenants won't pay it.
You're just saying this because you probably are one of these greasy people that own multiple properties
I worked hard for 30 years and yes over those thirty years I've added a few properties. In fact when taxes go up rents go up in lock step. Tenants don't want to be homeless, if they don't pay that is where they end up quickly. Unless they are happy to live with mom, on a couch with friends, share a room or sleep in their car; guess what? they will pay@@geoffreyhigginson5290
@@DummMoney-rr1fi Not if rental supply is increased, then landlords don't have an excuse to increase rent. If supply is high people won't choose your expensive shit apartment.
But increasing density, and supply of housing in a hohsing crisis is a challenge. The government would need to get involved in mass producing midrises to cool down the market.
not even close, this would cool down the investor spend on new stock. Let the free market run and see what happens. This is the only way to balance the supply and demand. Kick out these lefty com mies that put laws in place that hurt everyone@@dylanc9174
Olivia Chow purposely didn't say how much of an increase she wanted on her platform. She was pressed about it but refused to give an answer. No one expected 10.5%-16% when most of the other candidates say they will increase at or below rate of inflation (about 3%).
Chow must be removed. Unfit for the job.
Never vote ND P otherwise you got bankrupt and become homeless