Toronto's 2026 Tax Hike Classified 'Extraordinary' as It Surpasses 3.15% Threshold
Toronto residents will face an 'extraordinary' municipal property tax increase in 2026, according to the Residential Tenancy Act. This follows a report by Eric Stern in Focus Burlington, which discusses rent and taxes. The city's tax rate will exceed the 3.15% threshold set by the act.
In 2026, Ontario is limiting rent increases to 2.1%. However, Toronto's municipal property tax increase will be higher than this, classifying it as 'exceptional' under the Residential Tenancy Act. This means the increase will be above the 3.15% threshold set by the act. Eric Stern's article in Focus Burlington, accessible at www.Focusburlington.ca, delves into these changes and their potential impacts on residents.
Toronto's municipal property tax increase in 2026 will be classified as 'extraordinary' due to exceeding the 3.15% threshold. While Ontario caps rent increases to 2.1%, Toronto's tax hike will be higher. Residents can stay informed through Eric Stern's coverage in Focus Burlington.
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