Council did earlier approve a residential property tax rate that totals 3.29 per cent, or $90 extra for the average homeowner. Earlier on Wednesday, council approved a residential property tax increase for 2017 just below the rate of inflation. The 2 per cent increase required to help balance this year’s budget, when adjusted to include a new special levy for capital projects and the provincial education tax, totals 3.29 per cent. “I am proud of city council’s decision to keep Toronto property tax increases below the rate of inflation,” said a prepared statement from Tory’s office after the tax rates vote. “The single biggest cheque most families write to the city is for their property tax bill.

Source: thestar February 16, 2017 02:12 UTC