Nov 29, 2012
By Michael Kramer
A property tax increase of 1.95 per cent is being proposed by City of Toronto staff for next year.
City Manager Joe Pennachetti unveiled a proposed 2013 operating budget today that would wipe out the annual predicted funding shortfall .
But that could only happen if the police service freezes its budget.
He says otherwise, the city will have to find 21 million dollars in cuts or raise taxes to balance the books.
Earlier this week, budget chief Councillor Mike Del Grande was put on the Police Services Board in a move widely seen as an attempt to force the police to cut costs.
The city’s proposed tax hike translates into $48 dollars on an average Toronto home.