So on October 22, Toronto city hall will vote on whether to cut services and implement new taxes in order to raise more money to pay down the city’s $400 million debt.
Two issues in particular are a $60 fee to register a car or motor vehicle … this is on top of the $74 people already pay to do this.
The other issue – which is the big source of contention – is a land transfer tax, which is music to the ears of whichever councillors are in favour, because of the money this would apparently bring in … but yet another burden on people buying homes. Not to mention a major obstacle for first-time buyers, as well as wannabe first-time buyers like me, who may have to think of coughing up yet another several thousand dollars, in addition to the money being saved towards a downpayment.
Not that I’m a fan or even a reader of the Toronto Sun, but I was alerted to a column by Sue-Ann Levy, who sat down with Coun. Mike Del Grande – who’s a chartered accountant by profession – and poured over the city’s 2006 annual financial report to see if there were any cuts that could feasibly be made, instead of the ones Mayor David Miller is proposing. I think you’ll be able to find it here.
Now, I don’t necessarily agree with everything on this list – and I’m sure neither would any of you – but I do agree that there must be some other places to look for cash before shaking down honest, hardworking taxpayers.
I mean, if a journalist and an accountant councillor can find these, why can’t the mayor?