this post was submitted on 15 Jun 2023
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Waterloo

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[–] [email protected] 5 points 1 year ago

Not super awesome, but at least better than Toronto's approach which has been to let infrastructure and services crumble instead of hiking taxes. I like my municipal infrastructure and services thank you.

But yeah, would be cool if this was scaled to income.

[–] Tgnome 3 points 1 year ago

If they made property taxes proportional to income this wouldn't be that much of a problem for most people. Currently lower income families spend 10% of their income on property taxes and higher income families spend 2%. Raising property taxes without fixing that is not good. I'm not an economist so I don't know the best way to do it but I'm sure someone could figure it out.

Source for my numbers: https://www150.statcan.gc.ca/n1/pub/75-001-x/10305/7796-eng.pdf