12-01-2020, 07:15 PM
(12-01-2020, 06:47 PM)Bytor Wrote: This article is a good explanation why a property tax increase of less than inflation is actually a tax cut. https://www.thestar.com/news/gta/2015/03...eenan.html
It's a revenue cut for the municipality, but it's a tax increase nonetheless. First of all, as far as I'm concerned, intentional inflation is a form of taxation (yes, I understand why we have inflation). It's a wealth tax that disproportionately targets the non-asset owning classes. On top of that, very few people have wages that keep up with inflation, so even in terms of income a property tax increase in line with inflation is still a greater proportion of a person's paycheck going to taxes.
I don't blame municipalities for this. I'm fundamentally opposed to property taxes, but in the absence of any other consistent form of revenue, what can the cities do?

