As a former resident of downtown Toronto... Property taxes are a joke. They should crank up property taxes on any property that isn't a primary residence to close the gap. Fuck the short-term-rental hoarders. I've always told my city councillor that I wanted to live in a nice, clean city where everyone gets their needs met, and pools and parks are open and staffed appropriately -- and that higher property taxes were an acceptable way to make that happen.
Renters in non-rent-controlled buildings would love this idea.
They could probably afford to buy a house if this idea was implemented. :)
I don't know about a house but yeah, it should force landlords with unsustainable costs to sell. 😅
That's precisely the point. Get residential homes out of the hands of speculators and into the hands of families.
Even with rent control they would just evict the tenants. There is no such thing as trickle down
That’s the plan! We can expect to see an increase in property taxes now that Olivia Chow is elected.
If only the province and city could actually agree on something
Non-paywall link?