Rob Ford’s Draft Budget Was Passed By Council Yesterday
The $9.4-billion budget before council contains a 2.5 per cent property tax increase approved earlier Tuesday. The city reported a $154-million surplus for 2011 and Coun. Josh Colle convinced council to use $15 million of that money to reduce or remove some of the more contentious cuts, such as chopping some TTC routes, closing five wading pools, as well as funding for ice rinks and homeless shelters.
The Torontoist.com also has a good summary of the major changes to Rob Ford’s draft budget.
TAX CHANGES
(Passed without debate)
- Residential property tax rate: increase of 2.5 per cent
- Commercial property tax rate: increase of 0.83 per cent
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