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By MoneySense Staff on February 16, 2010

Torontonians to pay higher property taxes

By MoneySense Staff on February 16, 2010

City's mayor adds fees and ups taxes to pay for budget shortfall.

This article is 15 years old. Some details may be outdated.

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Owning a home in Toronto just got a bit more expensive. The city’s mayor announced today that property taxes will rise 4% in 2010, while businesses’ taxes will jump by 1.3%. According to the Toronto Star, the average Toronto home — valued at $407,374 — pays $2,334 in property taxes now. The increase would tack on $93. Mayor David Miller is also making people pay a $50-per-family sign up fee to participate in the city’s recreation programs, while a second false fire alarm will cost people $350 per dispatched truck.

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