Tuesday, June 26, 2007

Largest Municipal Tax Hike in Canadian History One Step Closer

Last night the executive committee of the city of Toronto voted in favour of two more new taxes: a new land transfer tax of 1.5% and a $60 vehicle registration tax. Combined these taxes will take another $365 million out of the pockets are hard-working Toronto families.

This is the single largest municipal tax hike in the history of Canada. And it comes only one week after the city voted in a new garbage tax which will general another $56 million. Together the three new taxes will soak us for another $420 million a year.

There aleady is a land transfer tax of 1.5.% in Ontario and a vehicle registration tax for Southern Ontario already was already $74.

Thanks to tax and spend Miller and his friends on executive council, residents of Toronto will have to pay these taxes twice; once for McGuinty and once for Miller.

There is only one last hurdle for these new taxes - a vote by the full city council in mid-July. Keep your fingers crossed but don't hold your breath.

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