Property taxes are increasing in places across Canada in the new year. To deal with inflation, high interest rates, crumbling infrastructure, and rising demand for services, most towns have authorized property tax increases this year. A 5% rise in property taxes is planned in Montreal.
This is the largest gain in 13 years. Vancouver has increased by 7.5 percent. A 10% increase is projected in Halifax.The city of Toronto's budget proposes a 10.5% increase in property taxes. However, Toronto Mayor Olivia Chow has warned that if the federal government does not pay $250 million to support the impending refugee flow, it may grow to 16.5 percent.