City of Toronto exploring new taxes, parking levy to tackle budget deficit

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City of Toronto exploring new taxes, parking levy to tackle budget deficit
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A new report says the city is facing a combined operating and capital pressure of $46.5 billion in its budget over the next decade.

Getty ImagesOfficials in Toronto are proposing several measures to tackle the budget crisis facing Canada’s largest city, including raising the land-transfer tax on high-value homes, increasing the vacant homes tax from one to three per cent, and a new commercial parking levy.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYUnlimited online access to articles from across Canada with one account.

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