Quote:
Originally Posted by halifaxboyns
Very few Cities (Toronto and I think Vancouver are the only ones) have additional revenue generation tools beyond property taxes, fees (like rec centre fees) and tourism levies on hotels. Vancouver and Toronto, because they have civic charters have additional taxing powers for revenue. For example: If you register a car in Toronto, not only do you pay the Provincial registration fee, but you pay an equal fee to the city. Toronto also has a land transfer tax - cities that size or even the size of Halifax need that additional revenue because of the pressure to build and grow.
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What does Vancouver have?
Unfortunately, thanks to Rob Ford, both Toronto's vehicle-registration and land-transfer taxes were scrapped in the past couple of years, which is part of the reason the city is now having an impossible time trying to figure out where to get money for transit expansion. Most of the municipal politicians running in this year's election, and all three major provincial parties are stuck in this ridiculous game of trying to assuage the GTA's transit concerns and promise major expansion, and none have even the most marginally adequate funding plan in place. (The Liberals under Wynne were leading the revenue-tools discussion, but have backed away big-time because it's politically unpopular to even mention raising taxes.)
Transit in Toronto is a nightmare--it's already so inadequately built, and the conversation around revenue tools is so juvenile, and there's simply no way to raise the money needed to do what has to be done. I honestly see no way out for Toronto in the short or medium-term.
It's a cautionary tale: That's exactly where we don't want to be. Having said that, Nova Scotia already has higher taxes than most other places, so the wiggle room to introduce new revenue tools here is less than in other places. (Fortunately, HRM is also not in the degree of debt most Canadian cities are.)