Property taxes can be confusing. Fortunately, the City of Toronto has a Property Tax Calculator that actually shows how your money is being distributed to various services and infrastructure developments and maintenance.
The Fair Housing Plan was introduced by the former Liberal provincial government as a solution to runaway home price growth; year-over-year values had spiked over 30% in the Greater Toronto Area, prompting concerns.
According to the government of Canada and the Canada Revenue Agency, tax non-compliance and money laundering can be a significant factor causing the rising cost of housing in the country’s hottest markets.
It recently came to my attention that the province of Ontario had not published any new data on foreign buyers in the residential market since Doug Ford was elected. It wasn’t sitting well with people, and the government responded quickly.