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6.9% tax spike ‘will mean change in Torontonians’ lives’: Olivia Chow - Toronto | Globalnews.ca (globalnews.ca)

submitted 2 weeks ago by [email protected] to c/[email protected]

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“This proposed budget will mean change in Torontonians’ lives today. Change means libraries open seven days a week, transit fares frozen while TTC service increases and thousands more kids fed meals at schools and summer camps,” Chow told reporters at city hall.

“Pools open sooner and longer; renovictions prevented by taking housing off the market and more support for tenants; traffic agents to keep Toronto moving and emergency responders arriving sooner when you need them most.”

☝️Now that's how a politician should talk about taxes.

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[–] [email protected] 7 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

In addition, property taxes on a large house are much higher than the property taxes on a condo. So even though they can't target wealth very well, the property tax is somewhat progressive.

[–] [email protected] 1 points 2 weeks ago

Property tax isn't progressive (a more expensive property isn't taxed at a higher rate), but you're right, it's also not regressive, like sales tax (lower income people spend a higher percentage of their income on living expenses, so they are effectively taxed at a higher rate).