Toronto tries to tax its way out of debt

The City of Toronto plans to balance a $9.2-billion budget by increasing residential property taxes by 4% and 1.3% to businesses.

Mayor David Miller said there will be no sale of city assets to balance the books, but the proposed budget includes $13 million in user fee hikes and new fees, and $172 million in internal savings.

Coun. Shelley Carroll admitted this budget won't fix the city's long- term structural problems.

I suppose it's really just math -- more taxes, or less expenses or sell capital assets (or I suppose try to grow the tax base with economic growth).
James Morton
1100-5255 Yonge Street
Toronto, Ontario
M2N 6P4

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