TORONTO – Mayor Rob Ford promised to keep property taxes “well below” the rate of inflation while building more subways should he be re-elected in October.
It isn’t clear how he intends to do that, especially after voting for a Scarborough subway that will cost Toronto taxpayers at least $1 billion in tax increases over three decades.
During an afternoon press conference Tuesday at his Etobicoke campaign office, Ford pledged his property tax increases will be well below the rate of inflation, which he pegged at approximately 2.5 per cent. (Toronto’s inflation rate has actually been significantly lower over the past couple of years. And annual property tax increases, while much lower than previous mayors’ have been about even with inflation)
“Today I’m committing to keeping your taxes much lower than the rate of inflation like I have for my term in office as mayor,” he said. “My top priority…
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