A 4% property tax increase was introduced today by mayor David Miller. That and many other tax grabs came in this years $8.7billion budget. The city expects that this tax increase will generate $83 million from house holds and $26 million from businesses. The property taxes now generate 39% of the budget. The people with low income will be able to apply for cuts or cancellation of this increase in their property tax. Other things that are expected to me increased are services, like the TTC will see an almost 4% jump. Adult aquatic lessons will jump by $3.50 to $98.00. The Mayor also is investing money for planning for the future, $24 million will be invested in this area. Although these taxes jumped a lot of the others had just stayed still, like land transfer tax and personal vehicle tax.Although tax jumps are nothing new I don’t think that this is a good time to be introducing an increase. Things are already expensive enough and if the whole economy is in the dumps wouldn't the government want us spending our money some where else other than to them? The government dose not want to run a defecate, but I think if they just do the same thing as they did last year until we are out of this economic state it would be better. After that the taxes can start going up again. There are some different thoughts I have about this, we could either spend our way out of the depression or just wait until everything goes back to normal. Really all we can do is to just wait and see what happens.
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