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February 1, 2024
How Toronto’s slightly lower tax hike could affect you, Justin Trudeau approves millions in refugee support and raccoons take on Groundhog Day.
Good morning. This is the Thursday, Feb. 1 edition of First Up, the Star’s daily morning digest. Sign up to get it earlier each day, in your inbox.
Here’s the latest on Olivia Chow’s reined in property tax hike, Ottawa’s funding to house refugees and whether it’s time for raccoons to step out of the groundhog’s shadow.
Mayor Olivia Chow is lowering the 2024 budget tax hike to 9.5 per cent
The Star has learned mayor Olivia Chow plans to raise her city’s proposed residential property tax to 9.5 per cent, down from the 10.5 per cent initially recommended by city staff. She plans to announce the new figure this morning in Scarborough, while unveiling her version of Toronto’s 2024 budget before it goes before city council on Feb. 14, David Rider reports. The tax hike will still be the largest in modern Toronto history, surpassing former mayor John Tory’s seven per cent tax increase last year. On average, the new tax would cost homeowners an extra $338 per year, although the specific figure would depend on the valuation of one’s home. Here’s how you’ll be affected.
Read More: https://www.thestar.com/news/morning-digest/olivia-chow-reins-in-toronto-property-tax-hike-should-raccoons-replace-rodents-on-groundhog-day/article_858005b2-c0fa-11ee-a1f1-db8058c411e4.html