Save the Matador! ⇒
26 September 2007, evening time
Hells Yes!
This is a post from my link log: If you click the title of this post you will be taken the web page I am discussing.
26 September 2007, evening time
Hells Yes!
This is a post from my link log: If you click the title of this post you will be taken the web page I am discussing.
interesting article. it goes back to why the City is so broke ass —> fiscal imbalance! our property tax has been artifically lowered (it gets raise for no more than 3%)for decades! we need money (or Michael Lee-Chin)…
hike up property tax to the market level!
by tiff on September 26 2007, 11:55 pm #
Property taxes hikes are problematic for people on fixed incomes. In my neighbourhood there are people whose property taxes have got up by 100% over the course of two years. (This came up at the all-candidates debate.) More so, if you set them based on the market levels of house prices than your property taxes are effect by housing speculators. Taxes for an area should be set to cover the costs of maintaining the schools and other infrastructure of the area. Housing prices go up and down. Setting property taxes based on housing prices strike me as arbitrary. Were schools cheaper to run in the early 90s? Were they super expensive to run in the late 80s?
There are more people living in the GTA than in any province save for Quebec. Our provincial government needs to step up and provide funding appropriate for a city of our size. But our local government also needs to smarten up. I had such high hopes for Miller, but he seems to be an incredibly ineffective leader.
by Ramanan on September 27 2007, 9:47 am #
i see what you’re saying.
but i still don’t see this justifying the current property tax rate freeze/ cap.
in fact, the province will never step in UNLESS the property tax regime completely breaks down based on the crazy rise in property value.
it’s terrible what a price we pay to get reform — but i don’t see how capping property tax has solved our problems.
I don’t think pegging property tax to market value is the complete solution either — it should ideally be based on servicing cost.
this could be someone’s master’s thesis.
by tiff on September 27 2007, 3:08 pm #
The cap is an equally stupid idea. At some point you’re going to have to pay all these deferred taxes.
And yeah, this is totally masters thesis material.
by Ramanan on September 27 2007, 3:20 pm #