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Toronto property tax hike shrinks 2.9%
For months, city hall had been singing the same tune: We are broke. Homeowners would be asked to carry a considerable chunk of the burden. A 4 per cent property tax hike was necessary to balance the books.
What this would mean to the average homeowner: a $93 increase.
But despite the tax hike, Toronto residents could expect fewer services. City officials called for 5 per cent budget cuts across the board. Though most departments failed to hit the target, considerable cuts were made to virtually every area.
But at a news conference Wednesday morning, Mayor David Miller made the surprise announcement that the city`s financial picture was not as bleak as projected.
An extra $100 million in surplus had been found, mostly through property tax figures that arrived late and city investments that performed more strongly than expected.
Now some have quietly questioned just exactly how much in the dark some city personnel really were.
Was the sob story just a tool to get difficult budget cuts made?
Read the full article here.
For months, city hall had been singing the same tune: We are broke. Homeowners would be asked to carry a considerable chunk of the burden. A 4 per cent property tax hike was necessary to balance the books.
What this would mean to the average homeowner: a $93 increase.
But despite the tax hike, Toronto residents could expect fewer services. City officials called for 5 per cent budget cuts across the board. Though most departments failed to hit the target, considerable cuts were made to virtually every area.
But at a news conference Wednesday morning, Mayor David Miller made the surprise announcement that the city`s financial picture was not as bleak as projected.
An extra $100 million in surplus had been found, mostly through property tax figures that arrived late and city investments that performed more strongly than expected.
Now some have quietly questioned just exactly how much in the dark some city personnel really were.
Was the sob story just a tool to get difficult budget cuts made?
Read the full article here.