Here’s a suggestion for solving Toronto’s budget crisis
Urgent need to finance the city, November 16
Despite my mailing address, I pay property taxes in Toronto and have lived in Toronto for over 30 years.
I think the best long-term approach to the budget crisis is to improve the city’s revenue tools.
One approach would be a split mill rate, in which the value of a property over, say, $2 million would be taxed at a higher rate. It would also be helpful to allow the city to charge a small HST surcharge. It would be fairer to non-Torontoers than just dedicating a portion of the HST to the city.