Toronto’s fair tax plan

“A great city does not come for free”

A message Toronto’s Mayor Miller:

Fellow Torontonians,

The debate over Toronto’s fiscal situation is really part of a much larger debate about the City we want Toronto to be. The Toronto I want to build and the city Torontonians voted for last November is one with excellent public services “” a city that is prosperous, livable and provides opportunity for all.

But a great city does not come for free. Toronto remains the only large world city that does not have access to sources of revenue that grow with the economy. Simply stated, Toronto does not have the money needed to pay for the critical services we have all come to rely upon, let alone to invest in our city. Without new revenues and greater control over our own future, we will all see and feel the effects of service cuts that take this city backward. That’s not my city.

City Council has an opportunity on October 22 to approve a new Land Transfer Tax and a Personal Vehicle Registration Tax that together would generate more than $350 million every year. That would put us on the path to a sustainable future.

I know that no new tax is ever popular. But expecting homeowners and businesses to bear the burden of double digit property tax hikes is unfair. Seniors on fixed incomes and small businesses would be devastated. A sales tax on the purchase of property, with rebates for first-time buyers, is far more reasonable than property tax increases of 18 per cent for residents and 6 per cent for businesses. Our proposal is a fair tax plan for Toronto.

The choice is clear. What is at stake is nothing less than the future of our great city and the very quality of life we currently enjoy.

Sincerely,

Mayor David Miller

See the Fair Taxes for Toronto website »