Thinking About Buying a House? David Miller Says Think Again
Despite a tremendous outcry from the public and special interest groups, it looks like David Miller has gained the necessary approvals for his controversial new land transfer tax. What does this mean to prospective home buyers? To put it simply, on an average home purchase in Toronto of $400,000, the land transfer tax portion of your closing costs just jumped from $4500 to $9000. This doubling of the effective tax rate will raise the city an extra $300 million per year.
This is a cash grab in the worst possible way. Taxes will be doubled but home buyers will have nothing to show for it. Miller says that raising these taxes are the only way to pay for the City's massive budget shortfall. Apparently he sees no other solution than to force the entire financial burden of the city upon 5% of it's residents (home buyers make up about 5% of the city's residents in any given year).
Toronto will soon have the highest land transfer tax rate in the country, and possibly the entire continent, depending on how it finally shakes down. Home buyers contribute approximately $2 billion to the city's economy. This number is all but guaranteed to decrease once this new tax goes through. Make no mistake, the city will feel the impact of this new tax.
I could go on and on, but I won't. After all, my bias as a Real Estate Agent is obvious. What about you blogTO? I'd love to hear your thoughts on this issue.
Comments (66)
I say punish the people who buy 3000 square foot homes in the suburbs and drive everywhere and cut a break to high density condo people.
Maybe user fees for the DVP instead?
I don't agree. Having just bought a house, sure I griped about having to pay the land transfer taxes, the lawyer's fees, the various deposits and other unexpected costs. But basically, if I have to pay land transfer taxes at all, whether it's $4000 or $9000, it's just another chunk of money that you pay once every ten years. Would you propose instead that the city increase property taxes? This tax increase basically doesn't affect me as long as I don't move.
If anything, maybe this tax increase will help to slow the out-of-control Toronto real-estate market, as more people will decide not to buy a new house but stay put in the one they have. (And clearly, as a real-estate agent, this is the real threat that concerns you and your commissions.)
It's terrible but no different than New York. It's not exactly a coincidence that NYC is rolling in cash during a real estate boom when they charge a 1% "mansion tax" for any apt/home over $1 M (which is the AVERAGE price here), a mortgage tax of around 2% (it varies up and down depending on the mortgage amount) and a land transfer tax of 1.45% (typically). All of those are flat-out robbery from the pockets of those wealthy enough to buy property, with no connected service provided in return. You can't blame Toronto for trying the same trick.
Why do we continue to see opinion articles from real estate agents with very obvious bias (first many "hot market, buy!" and now this) masquerading as news. Can the editors at blog.to please apply some basic editorial standards?
Perhaps this real estate agent is fine with Toronto's finances as they are -- roads crumbling, services degrading, the city responsible for funding areas it should not be, and yet not having the power to raise taxes?
Here's an idea: instead of bitching about exhorbitant land transfer taxes how about bitching about exhorbitant real estate agent fees? Do you really think you deserve 5%? That's a hell of a lot more than the city is taking. Is that how you can afford to spend the time to post on blog.to instead of being out working for a living?
Finally, why not apply pressure on provincial and federal politicans who have set up Toronto's finances to fail in the first place? If you do, maybe we won't need this kind of tax.
I disagree with you Andrew. First, Toronto is rolling in debt and deficit and must do something, and people are going to gripe no matter what. Second, if you don't move, you don't pay -- maybe that's better than applying something to everyone and forcing payment. Third, the smaller the place, the smaller the cost, so it's somewhat progressive.
I wish Toronto wasn't in debt, and could lower taxes and provide better services. But that's scheduled for the future thanks to the shortsightedness of many.
1. "If anything, maybe this tax increase will help to slow the out-of-control Toronto real-estate market, as more people will decide not to buy a new house but stay put in the one they have."
Why is this good (other than the pleasure it may give you in reducing the income or Real Estate agents)?
2. "Why do we continue to see opinion articles from real estate agents with very obvious bias (first many "hot market, buy!" and now this) masquerading as news. Can the editors at blog.to please apply some basic editorial standards?"
Yes, it is terrible that the page employs one author who is not an artiste type and may offer a different perspective. Get a grip - the author disclosed his conflict of interest right in the piece, which is more than I can say for most posts here.
3. "Perhaps this real estate agent is fine with Toronto's finances as they are -- roads crumbling, services degrading, the city responsible for funding areas it should not be, and yet not having the power to raise taxes?"
This is a non-sequitur. The city could improve its finances in any number of ways (for example, through spending cuts or other taxes) but has chosen a form of tax that the author finds inequitable. Provide a reason why this tax is better than another tax the city might levy, and you might be able to have a discussion with the author, instead of a shouting match.
4. "Here's an idea: instead of bitching about exhorbitant land transfer taxes how about bitching about exhorbitant real estate agent fees? Do you really think you deserve 5%? That's a hell of a lot more than the city is taking. Is that how you can afford to spend the time to post on blog.to instead of being out working for a living?"
Lets see, the real estate agent does some work to earn its commission. The city does absolutely nothing (in fact, they might all be out at the zoo or golfing with their free passes). On that basis, one is price paid for services rendered and the other ... I think its called extortion. Poster, please let me know what you do for a living so I can follow you around all day and tell you you are not worth the money.
5. Generally, where are all the people who commented on the authors previous posts decrying the high cost of real estate and the unfairness (hello, sense of entitlement) that such high costs exclude them from the Toronto real estate market? Certainly they can't be cheering a measure that raises the costs even further.
This is a disguised wealth tax by an NDP mayor who has drastically oversold and underperformed, and will be remembered as such at voting time.
Will this at least move us up a few notches on the Cost-of-Living index so that we can stop sulking about our unimportance?
Thanks for all the great comments so far.
John-good point. Will this drive home buyers back out to the 'burbs, adding to sprawl and sprawl-related problems?
GaryC-I was talking to a colleague and they were expressing a similar sentiment. Basically, the argument is it only happens once every 5-10 years and it's only a few thousand bucks, so will it really affect anything?
uSkyscraper-maybe then this new tax should only be on $1M+ properties, or some other high-water mark. Something to think about...
Ryan-I would address your comments, but instead I'll defer to x_the_x!
x_the_x, thanks for coming to my defense. I thought I made my own bias clear and never claimed to be offering anything more than my own opinion, but meh, what are you gonna do? All I have to say about your point #4 is LOL ;)
In general, I think this sort of tax is short sighted. The housing market is a driving force in the economy right now. A tax like this might not have much effect in the short-run, but in the long-run, when interests rates go up to their historic levels, a significant percentage of the population who are considering home ownership will have one more hurdle to cross and many will not be able to make the leap. This WILL hurt the economy and have a trickle down effect that in the end will cost people their jobs.
#3 - This is a non-sequitur. The city could improve its finances in any number of ways (for example, through spending cuts or other taxes) but has chosen a form of tax that the author finds inequitable. Provide a reason why this tax is better than another tax the city might levy, and you might be able to have a discussion with the author, instead of a shouting match.
Spending cuts to equal $300 million? That is a joke. Do you suggest the city stops running transit? That'll save money. This is a good tax, it's an admission to Toronto which helps fund all our wonderful crumbling infrastructure. Although I personally think a 905er type tax is better (ie. entertainment tax, alcohol tax) since so many come in and up to 5% doesn't add much to the price of any entertainment.
#4 - Lets see, the real estate agent does some work to earn its commission. The city does absolutely nothing
You seem not to walk on sidewalks, drive on the road or really leave your home. Wonder who does the policing, puts out fires or moves people around the city.
5. Generally, where are all the people who commented on the authors previous posts decrying the high cost of real estate and the unfairness (hello, sense of entitlement) that such high costs exclude them from the Toronto real estate market? Certainly they can't be cheering a measure that raises the costs even further.
If you can't afford this fee, you definitely can't afford to buy a place. $5000 is not going to stop you from buying a place if are in a position to.
budget shortfalls, blaming others and raising taxes ...smells like NDP to me.
i've spent the past 5 years raising a measly 10% downpayment for a property only to be sidelined by a mayor i've never voted for. i'd be happy to pay for city services if Miller could learn how to run a budget.
What about 905ers who use our roads, use our running water during the day, etc.? They should be chipping in on the cost of living/working in Toronto too.
well-said Cameron, Ryan and uSkyscraper. additionally, i think it's important to note that the only polling / research done on this issue was done by the Board of Trade (BoT), a right-leaning, pro-business organization (and one which, i might add, originally campaigned FOR the new revenue tools). the BoT study conducted by Decima research polled people in Toronto proper and in the outlying areas. SURPRISE, it was those in the suburbs who most opposed the new taxes. inside Toronto proper almost 45% of people thought it was an ok idea; that number rose when the pollsters suggested the money raised might go into public works projects.
i think it says something that more than 50% of Torontonians are ok with the new taxes. i say go Mayor Miller...maybe this will cool the housing market along the way to getting the city in good financial stead. i don't think either of those would be a bad thing.
Ever since MVA the city's main source of revenue has been indexed to theoretical paper gains that 95% of taxpayers don't realize. The more the city can do to shift taxation onto either economic activity (like income and sales taxes, and this one) or indexed to actual cost of providing service like the proposed trash fees, that SHOULD increase the fairness of the tax system. Unfortunately what seems more likely is that current levels of property tax will persist and new taxes will be additive.
New taxation powers for the city is not the right answer, or at least not on it's own, until the Province steps in and either resumes what should always have been the provincially funded services they downloaded during Harrishell or otherwise restructures things so the L FSAs start to pay their fair share.
Nothing to show for it? Do PST and GST make your television better? Of course not. It's a tax, not an upgrade.
Has nobody noticed that yesterday was the 12th anniversary of the Common Sense Revolution coming into being with Harris' election?
Does nobody remember that he is the cause of Toronto's woes?
I do. We're still feeling that wrath of the Harris regime. And they hung a portrait of the clown at Queen's Park yesterday.
It's already ridiculous for an average family to afford a house in Toronto, he's just made it more ridiculous.
I'm reading all this Harris nonsense in the comments, it was a decade ago...Miller is screwing Toronto into the ground now. Perhaps spending money on office renos, paying off your own screw up with the downtown airport, bike paths, and doubling of tax on the middle class is not the smartest way to spend the money you get from over burdened taxpayers.
Miller's the biggest jackass we've ever had for a Mayor.
Those of you who couldn't be bothered to go out and vote can thank yourselves that he's in office again.
Now we're all paying the price.
Miller spent his entire first term, and then some, asking for the province to shift some of its tax revenue and give it to the city to cover the bills for provincially mandated programs which the province didn't pay for. And for 4 years the province didn't comply. Instead they gave the city the ability to tax.
If the province, which is now running a surplus, wanted to be fair to the tax payers, and do what Miller has been asking for, they would remove the equivalent provincial tax on vehicle registration and land transfers, leaving no net change to us, and would help balance both the province's and city's books.
That reasonable proposal has been the cornerstone of fixing city finances for a long time now. But it always falls on the deaf ears at Queens park.
I could have supported this plan, if it had included breaks for first time buyers or those buying high density units. But this seems a poorly thought out blunt instrument and lends itself to the cash grab argument.
It is pretty hard to deny that Toronto is getting screwed by the downloading of provincial services, but I am not sure directly passing this off on only a select group of residents is a responsible plan. I would have liked to have seen a more strategic, well thought out plan as opposed to simply raising costs across the board.
It just seems pretty short sighted and I worry you could see it drive home buyers out of Toronto and create even more people who pay taxes to another municipality but use Toronto's services (roads, etc.).
As far as I understand it won't be just those fortunate enough to purchase a home that will be affected. I believe that rental properties would be subject to tranfer taxes, meaning at some point if the ownership of a property changes, the costs will be passed on to tennants.
When is this predicted to take effect?!! The G&M article says it goes to City Council for adoption "next month". We close on our house July 25th, PLEASE tell me we've dodged this bullet.
Why do right-wing opponents of city hall always distort the nature of spending in the city government? Do you people really think that free passes to the zoo, cost of living salary increases for firemen, or renovating an office adds up to the biggest percentage of the city budget? It doesn't. Frankly, it costs a bloody fortune to maintain roads, freeways, parks, transit, fire patrol, police, not to mention homeless shelters and dozens of other things that the city is responsible for. Your symbolic whining about counsellor's salaries or perks is noted, but pointless .. it's a small percentage of the overall budget.
You scream about the NDP mayor and taxes, but how many of you people idiotically voted for the "common sense revolution" which amalgamated the city, downloaded responsibilities to it, and drastically curtailed provincial funding for many programs? I suspect given your comments the number is actually quite high.
Frankly, this ideology is blind and selfish. The right wing screams for efficiency gains and decry lack of democracy but when they were in power they made things less efficient, forced top down decision making, eliminated as much local democracy as they could get away with, and now the city can barely function as a result of it.
Thankfully people who think like you number in a minority in this city. I just wish you were a minority in the country.
how about us citizens charging the marketers a fee every time they put junk mail in our mail box? now that we have to pay a fee for garbage disposal.. I notice over 90% of my trash can at home is for these flyers... how about charging the telemarketers a fee every time they call us at home and interrupt our dinner? i think with the fees collected, it should be enough to fund the land transfer tax
1. "Spending cuts to equal $300 million? That is a joke. Do you suggest the city stops running transit? That'll save money. This is a good tax, it's an admission to Toronto which helps fund all our wonderful crumbling infrastructure. Although I personally think a 905er type tax is better (ie. entertainment tax, alcohol tax) since so many come in and up to 5% doesn't add much to the price of any entertainment."
Even a cursory glance at the budget sees at least $300M in cuts. Don't forgot that our dear charlatan mayor handed out half of it ($150M) to Bombardier workers in Thunder Bay. Is it equitable that Toronto homeowners should be subsidizing Thunder Bay workers through a property transfer tax?
2. "#4 - Lets see, the real estate agent does some work to earn its commission. The city does absolutely nothing
You seem not to walk on sidewalks, drive on the road or really leave your home. Wonder who does the policing, puts out fires or moves people around the city."
It behooves me to point out that homeowners also pay property and other taxes which fund these things. The issue isn't whether the city provides general services from general taxation, its whether the city provides any services specifically to the class of homeowners who would be compelled to pay the new tax. They clearly don't. The objective then is to try and understand why a tax is being levied on a specific group (homeowners) rather than all taxpayers to fund the underfunded programs you mention. I haven't heard any compelling justification. The argument seems to be that it will help slow down the Toronto real estate market. This argument begs the question. As I stated above, why is this seen as a good thing? Real estate activity generates and permits the accumulation of wealth, promotes social mobility, generates income for workers in the real estate services industry and construction industries, etc. etc. ad nauseum.
3. Ryan - I won't repeat your screed for fear that I too will look like a maniacal street preacher at Yonge and Dundas. Suffice it to say, grind your axe elsewhere. You know nothing about the politics of opponents of this tax - let alone who they vote for or voted for. I suspect many voted for Miller but oppose him on this issue.
Perks etc. might be a small portion of the overall budget, but so is this new tax. All I was trying to illustrate was the choices this council and this mayor are making with your money. As I have stated above, I do think, notwithstanding the costs of running essential city services, there is room in the budget such that this tax is unnecessary. While I agree that provincial downloading was inept, so too has been this Mayor's public finance management.
"I notice over 90% of my trash can at home is for these flyers..."
Put a "no junk mail" sign on your mail box, and recycle any that get through.. PLEASE!
Beth (and anyone else who recently bought a home or is buying one in the very near future): as far as I have read, the earliest it could take effect is Jan. 1 2008. So fear not, you won't be hit with it until you buy your next house :P
"Yes, it is terrible that the page employs one author who is not an artiste type and may offer a different perspective. Get a grip - the author disclosed his conflict of interest right in the piece, which is more than I can say for most posts here."
HAHA ZING!
I have started bringing the junk mail back to Canada Post with "return to sender" on the package..
When you sell a house it doesn't add one cent to the City's cost of doing business - they charge you for transferring a parking pad permit to another name FFS! When you build a house it adds to pressure on sewers, power lines, roads etc. That's why development charges are fair and land transfer taxes aren't. Anyone who says "no big deal" is obviously renting (so they don't think it will cost them) or is living in their last house having traded up from a starter home years ago.
One other thing to remember - people on low incomes, disabled, seniors can either put property taxes against Ontario tax or have them deferred/cancelled. With garbage removed from property tax they lose the ability to do this. No wonder Miller didn't renew his NDP card.
Wow. Can't believe you're still blaming Harris. Amazing how few remembered how much worse we were under Bob Rae's (provincial NDP) leadership. Besides, a lack of economic skills (I see a trend here) I believe he, like Miller, offered big hand-outs to poor little unions that we the tax-payers subsidized. It's sickening. And while I'm on it, don't forget about all the money Miller blew to oppose the Island bridge/airport, lot of good that did.
If you're all looking forward to a slump in the housing market and an economic downturn why don't you pack up and move to Detroit. I hear it's lovely.
Rae may have sucked, but he sucked during the worst recession of the second half of the 20th century. Harris managed to suck during an economic boom period, and to break things in the long term.
i'm sorry...but this is the man that did a $2.9 million renovation on his own office, and hired additional staff to occupy that space. he should start worrying about how city hall can save money before taking it from the average person. geee...we even get to pay ttc workers' healthcare premiums now! what a treat!
fact: this city is basically run by unions who do/get whatever they want (case in point: a wildcat strike with no consequences). no wonder the city is in such bad debt. and mayor miller, being a union supporter, will be re-elected time & time again, as too many people who can't think for themselves will receive the call from their union telling them who to vote for and will say "ok".
I don't see what the big deal is. Living in Toronto I am concerned about the high cost of housing. However, prices have increased ridiculously over the last few years due to the market. If Real Estate agents really cared, they would drop their commissions to offset the new tax. As far as I can tell agents are charging the same commissions though housing prices have increased tremendously. The city needs this money. My biggest concern is getting to my job on Bay Street every day. Public transit in this city sucks. It is hardly world class. Even a third world country like China is providing their population with better transit. The city of Chengdu for example is getting 240 km of new subway lines over the next 20 years. Give the major his money. The cost of housing is increasing regardless of this tax. Its just that developers and agents are greasing their pockets with the cash instead of the public. Now is the public's turn.
Skyscraper. Real estate agents dont get 5 percent you douche. If theres 2 brokerages involved in the sale which most of time there is. That 5% in slashed in two. THEN the agent gets 70-80 percent of the 2.5 percent remaining. Even in situations where theres only one brokerage involved for buying and selling, its 5 percent of the house, x.7, but this case is very rare. So if a 300k house is listed by an agent, and another agent finds the buyer, thats only 5250 for the agent who listed, and the agent who sold, the rest of the money goes to the 2 brokerages. And agents have a lot of costs and fees they must pay like increasing monthly fees from the brokerage, desk fees every month etc. And you cant say im biased because im not an agent, a relative of mine is.
Michael, you are correct. Prices have increased significantly over the last few years due to the market. Free markets tend to have that effect on scarce resources like land. It sounds as though you and others in this thread would like to see us move away from a free-market system by allowing the government to impose artificial constraints on the system through arbitrary taxation. Remember, the only reason this tax is being implemented is because the city is spending more then they are earning.
Comparing Real Estate Agents' commissions with this land transfer tax is just plain silly. Commissions are a fee for a service rendered. Commissions have always been and will always be completely negotiable. Now when you go to buy your next house and you get a bill for $9000 to 'transfer the land', see what happens when you try to negotiate this with Mr. Miller. Conversely, imagine you want to sell your house and your Real Estate Agent tells you they are doubling their commission rate because they are currently spending more than they are earning and they need you to help them 'balance their books'.
Andrew, that's total and utter nonsense. The city's funds do almost everything for your clients, from keeping them safe on the streets to making sure they have water to their home, to making sure they can get place to place. Maybe you should think about that a bit more before putting "balance their books" in quotes like it's a joke.
Frankly, the work you do is pathetic in comparison; though you do seem to put quite a bit of work into advertising yourself on blog.to under the guise of "informative" (marketing & opinion) articles.
Frankly, $2.3 million for an office renovation is hardly nothing in the grand scheme of the city's budget. Cutting corners there isn't going to save the TTC. Put things in perspective, people.
The money had to come from somewhere. Toronto has the lowest residential property tax in Southern Ontario. Since the city has tried to pass the burden on to the non residential sector those values have tanked. In 2005 you could by an acre of industrial land in Toronto for $450,00 while in Mississauga it cost $700,000. As a result assessment values have plummeted and development has left the city. So while Toronto's attempt to draw blood from a stone has failed its share of the lucrative non residential development has gone by the wayside. The city cannot continue providing an average of $3000 per home while collecting only $2000.
By the way, about those "905ers who use our roads, use our running water during the day, etc.?". You should get your facts straight. The exodus of jobs from the city to the 905 region has reversed traffic flows. As of 2001 more people from Toronto go to work in the 905 region than the other way around. I guess you should be sending some money to them for the use of their roads.
i'm disgusted by our mayor. a few days days after i find out he's closing a nearby public pool i use (blaming, as usual, the feds and the province) now i find out i'm going to be jacked for my hard-earned money if i buy a house because he thinks he can cut open the goose that lays the golden egg. he's got no forward thinking.
The Toronto Real Estate Board has launched a new website to protest this new tax
http://www.nohomebuyingtax.com/
They have also taken out an ad in The Star.
The issue with this tax is that there ARE NO SERIVCES provided by the city that are related. It's an unfair cash-grab.
For all the idiots, including the Mayor and his sycophant supporters who feel that spending cuts of 500 million are unattainable - here is some perspective: We are talking about a budget cut that is only 7 percent of the 7 billion dollar city budget.
This is easily accomplished with no cuts to services, unless you happen to be a left wing NDP mayor with a union agenda. They could start with a wage/hiring freeze, and could stop some of the wasteful spending which can only be described as criminal patronage and nepotism driven.
Miller has refused to make any cuts, and has voted against every cost saving measure, both while mayor and previously as a councillor.
Miller seemed worried that his beloved tax grab might not pass so he said "what are we going to do if I cant get the land transfer tax for doing nothing in exchange. Oh we may have to cut services. I say what a novel idea cut spending. Never thought of that before. Services will be cut oh which ones like the garbage which they do not collect anymore? I dont get welfare so I am not concerned. I shovel my own snow now so unless I have a heart attack doing it. Who cares! What services am I going to miss. Did Miller really go to Harvard? or U of T? Those schools should be shaking in their boots because this does nothing for their reputation.
Miller seemed worried that his beloved tax grab might not pass so he said "what are we going to do if I cant get the land transfer tax for doing nothing in exchange. Oh we may have to cut services. I say what a novel idea cut spending. Never thought of that before. Services will be cut oh which ones like the garbage which they do not collect anymore? I dont get welfare so I am not concerned. I shovel my own snow now so unless I have a heart attack doing it. Who cares! What services am I going to miss. Did Miller really go to Harvard? or U of T? Those schools should be shaking in their boots because this does nothing for their reputation.
This is sick!
We are NOT NYC. We are NOT in the same league as other major cities around the world and David Miller has got to STOP trying to get people to believe that we are. What he needs to do is cut back. Stop spending ridiculous amounts on things we DO NOT need.....I.E. purchase of Theatre Passe Muraille? Moving of the Peace Garden at City Hall? What kind of responsible spending is that? Let's get the city out of debt....let's not have them spend it on useless wants. I manage my pocketbook...what can't they?
Take a look at the city's councillors.....in 2000 most made $50-$60/year in salary, NOW, they make $105 on average. How does a person get a $40.0 raise in 7 years? WTF? They are greedy, money hungry people who DO NOT have the city's real interests at heart!
Maybe this will help the fact that we have the most expensive single fare cost for any public transit system in North America and possibly the world.
Also, if the city has money it makes it an attractive place to live, hence property value will mature and it will encourage the real estate market.
Why was this even posted??? stupid article.
real estate agents, and idiot developers are the reason this city is in debt.
Miller is out of his freaking mind. This doubling of the land transfer tax for no added value in return is nothing but robbing hard working people of their hard earn keeps. It is total unfair because it lay the burden of the budget deficit bailout squarely on a small percentage of new homeowner. I also heard that, if passed, the law will apply to people who are already in contract to buy a home. If there is going to be additional tax, then it should apply to everyone. Raise property taxes, set up road toll for the use of the city's road, introduce the Miller tax for purchases within the city on top of the PST and the GST. I know this crazy but it can't be anymore crazy then the double land tax. At least it will be more equitable. BTW, how long more does Miller have in office? Can he be impeached?
David Miller's land transfewr tax is a classic socialist "rob from the rich and give to the poor" tax grab. Miller and his henchmen are a blight on our capitalist society and have no right to take from those of us who work hard and create wealth.
Simply put, David Miller is a wanker who needs to get out of the way so that we capitalists can return the cityof Toronot to its former glory.
David Miller aka. Robbing Hood? I suspect that this is only the first of many cash grabs to come if this little weasel gets his way. When your own household budget is nearly bankrupt, how are YOU going to cope? Who are YOU going to tax? No one that's who. You are going to have to look at your finances and cut the waste. You are on your own. What's Miller going to do when he finally has ALL of your money and has driven all business, through taxation, out of the city? Maybe you can get a part time job?
I notice everyone is still flogging Harris for what he did,
but they seem to conveniently forget about Martin and what he did to the provinces. If you want to sling mud, fine, but let's make sure that everyone gets their fair recognition for their efforts to this mess. Let us not forget Dalton McGuilty who is really responsible for sicking Miller on the taxpayers in the first place. What the hell was he thinking? Oh yeah, he wasn't!
You've got bankers? Much worse! You've got Miller!!
Talk about hands in your pockets!
One thing everyone seems to forget. WHY DOESN'T THIS LEFTY ( and all lefties in this blog ) knock NEXT DOOR to Hazel Mcallion's office and ask HER how to run a city and ask HER for advice. How come Mississauga has low taxes, surpluses and not in a mess? Is Mississauga 3000 miles away? Miller is going to create a Detroit or a St-Louis. He's gonna drive business away ( and population ) . Toronto will slowly become a ghetto, because decent people will move out. Ever been to Detroit or Buffalo? After 6 PM the city center ( core ) is DEAD. NOTHING THERE. Suburbs? BUSY BUSY BUSY!!! There is a reason why some American cities are in such a situation. They have Lefty mayors like Miller.
For those who think Toronto needs extra tax for entertainment, booze, etc. Well, it's simple. I live in Pickering, why would I go see a movie in TO when we have fine theaters in Pickering-Ajax and Whitby? WAKE UP you bunch of Lefties. Stop protecting your ideology and have some common sense and sense of being efficient. He needs more money? WHERE DOES THE ACTUAL MONEY GO? If he's in a deficit, why is he giving himself a raise?
pure B.S.
This Michael above sounded rather ignorant, no? Mississauga has a higher residential tax rate. His sole conception of Toronto's entertainment options is a Hollywood movie. His claim of Toronto headed in Detroit's direction is baseless. He's going to stick with his Pickering NHL games, his Pickering Molson Amphitheatre, his Pickering Broadway theatre (etc).
Do people actually think live that?
Mayor Miller is the worst mayor in my lifetime...I only voted for him because he looked the part...but he is INEFFECTIVE as a mayor and keeps punishing the people of Toronto to make his point...
Toronto is no place to work , raise a family and try and get ahead. Move away and let the citys leftys tax themselves to death so garbage men can drive around in ten million dollar garbage trucks. So Toronto can have a thousands of miles of empty bike paths. So toronto can have beeping intersections so blind folks can cross the street. The only way to bring balance back is to turf the socialists but that not gonna happen because the old stock Toronto is either dead or has moved away. The new Toronto seems quite happy with his blondeness.... Move away its alot easier to hate from afar then burn the socialists out.
I really think its time Mayor Miller (Quimby) step down from office. He has no concept of how to run a city with his taxing the middle man to financial burden, back/closed door politics and policy making, and nothing to show for it.
If there was a way to campaign to kick him out of office - I would be one of the first on the list with my name.
I was selling my downtown condo and buying a house in the city. Now I'm opting for Vaughan instead. I already hate that Toronto has to pay to support the drug addicts and mentally ill who live in our city. After all, most of them sleep somewhere. Now this is the last straw for me. Goodbye Toronto! I hate you David Miller.
For me that difference in taxes makes a huge difference in whether I can afford a home. Being a first -time buyer who happens to be co-listed on another deed, I cannot take advantage of the first time homebuyers rebate. Miller has not helped me one bit as first time home buyer. He deserves to go!
Hey. In all recorded history there has not been one economist who has had to worry about where the next meal would come from.
I am from Belgium and too bad know English, tell me right I wrote the following sentence: "Traditionally, despite all this free example, buyers like it not slow to tax."
With love 8-), Tzvi.
View More Events
Suggest an Event
Join the blogTO Flickr group
Join the blogTO YouTube Group
RSS