2 more, 3 more, 4 more....Can you feel the burn T.O.? If you can't, you haven't gotten your new property tax assessment in the mail yet. This mornings budget unveiled a 4 per cent rise in your property taxes.That's an increase of $89 per household which translates to an additional 25 cents a day for your wallet.
The reasons? According to Mayor Miller, welfare, policing, snow removal, and the dreaded TTC are being blamed for driving the costs up. However, programs for low income earners and seniors will be expanded qualifying another 22,000 families for assistance. In order to ease business property tax rates, homeowners get the short end of the stick by picking up the greater tab.
Unfortunately, the 2.5 per cent hike fails to include increases in water rates, the new personal vehicle tax and new user fee for garbage. You see, I told you your wallet was going to work up a good sweat!
Monday, February 9, 2009
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