this post was submitted on 07 Sep 2023

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Amid budget crunch, Toronto to tax luxury home sales, asks province for sales tax (www.winnipegfreepress.com)

submitted 2 years ago by grte@lemmy.ca to c/canadapolitics@lemmy.ca

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[–] Rocket@lemmy.ca 1 points 2 years ago* (last edited 2 years ago)

Which is fine if the city is bringing in enough money. But this says it is not. The tax rate is simply not high enough.

It doesn’t really matter how much the homes are worth. That is only used to define the proportional share each owner must pay. It does not define the grand total.