Will Toronto Homeowners See Increased Property Taxes In 2022?

Will Toronto Homeowners See Increased Property Taxes In 2022?

The proposed 2022 budget for Toronto includes 2.9% increase to property taxes for the year 2022. The increased levy will add $93 to the average property tax bill in the city.

The city building fund's tax rate is to increase 1.5%, adding $48 to the average property tax bill. The two increases, totalling $141, would bring the average homeowners' tax bill to $3,339.

The federal and provincial governments are expected to contribute an additional $1.4 billion to address pandemic-related issues.

Ishtiaq Ahmed
Broker,
Century 21 Innovative Realty Inc. Brokerage
www.iwillsell.ca
Ph: 416-999-6975

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