Taxes
Taxes
Toronto Vacant Home Tax Declarations Due Tomorrow
Toronto homeowners have until tomorrow to declare the 2023 occupancy status of their property — or face a fine.
Feb 28, 2024
Finance
Kerrisdale Property Assessment Increases Shock Business Owners
BC Assessment has issued property assessment increases of around 25% on several retail properties along West 41st Avenue, near West Boulevard, all of which will come into effect this July.
Taxes
Toronto Passes 2024 Budget, 9.5% Tax Hike For Residential Properties
City Council voted in favour of the 9.5% increase to the residential property tax rate when they met on Wednesday to finalize the 2024 budget.
Taxes
Housing Market ‘Weakness’ Pulls Ontario Land Transfer Tax Revenue Down By $119M
Ontario is projecting to end the year with a $4.5B deficit, the Province’s third-quarter finances also show.
Insider: Rate Cuts A Must For Housing Supply (And They Can’t Come Soon Enough)
The data shows it is completely plausible — and possible — to serve tens of thousands of new housing units into the market in the coming months, just by lowering rates.
Taxes
Toronto Vacant Home Tax Declarations Due At The End Of February
It's that time of year again... here’s what you need to know about declaring the occupancy status of your property ahead of the February 29th deadline.
Taxes
Chow Brings Proposed Property Tax Hike Down To 9.5% In ‘Mayor’s Budget’
Chow made the case for a much more palatable 8% raise — which would be combined with a 1.5% increase for the city building levy — when she tabled her version of the 2024 budget on Thursday.
Taxes
Toronto Gets Closer To New 10% ‘Speculation Tax’ On Foreign Home Buyers
Toronto's Executive Committee voted in favour of the proposed tax on Tuesday, and the item is set to go to City Council next week.
Taxes
Chow Pushing To Lower Multi-Residential Tax Hike To Get Ahead Of AGIs
The multi-residential property tax increase is currently proposed at 4.5%, but Chow hopes to lower that figure in an effort to prevent above-guideline rent increases, as well as evictions linked to AGIs.
Taxes
Toronto Eyes New Tax To Clamp Down On Foreign Home Buyers
The proposed tax stands to bring in as much as $15M in revenue in 2025, and will be considered by the Executive Committee on Tuesday.
Taxes
A Historic Property Tax Bump Looms In Toronto, Experts Worry It’s ‘Too Much, Too Quick’
“I do see this having an impact not only on homeowners and investors, but on renters too.”
Taxes
Toronto Budget Proposes 10.5% Property Tax Hike For Residential Properties
Budget Chief Shelley Carroll said that the property tax rate could end up being quite a bit higher than 10.5% if the federal government is unable to provide $250M in funding for refugee claimants utilizing the city’s shelter system.
Taxes
City Official Says Toronto Will See A “Substantial” Property Tax Hike — Here’s Why
Specifics on the property tax increase will come to light on Wednesday, Budget Chief Shelley Carroll says.
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