Torontonians to pay higher property taxes - MoneySense

Torontonians to pay higher property taxes

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


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.