The City of Toronto is Proposing at 10.5% Property Tax in 2024 - Lets Explore The Details | Episode 37

Toronto Real Estate Deep-Dive: Understanding Property Taxes & the City's Revised Budget Mark and Joey, deep dive into the impact of property tax on homeowners and renters, explaining how it funds essential services like public transit and emergency responses. The duo explains how this preliminary budget gets created, the process of what comes next, and why so much of a hike is being proposed. (00:00) Introduction and Welcome (00:08) Discussing Property Taxes (01:11) Introduction to the Toronto Livings Podcast (04:11) Personal Experiences and Healthy Living (07:29) Exploring Pop Culture (12:52) News You Can Use: Property Tax and Savings (16:57) Discussing Traffic and Daylight Savings (21:26) Deep Dive into Property Taxes Continues (27:30) The Need for Increased Service Funding (28:24) Understanding the Basics of City Budget (29:12) Breaking Down the Budget Components (30:43) The Legal Constraints of City Budget (31:30) The Role of the Budget Committee (31:50) The Process of Budget Consultation (32:38) The Potential Impact of the Proposed Budget (34:05) The Reality of Property Taxes (35:15) The Importance of Government Funding (36:20) The Impact of the Budget on Shelter and Housing (49:35) The Role of Land Transfer Tax in City Budget (01:03:26) The Future of Toronto's Budget Where You Can Find Us 🏡 For all your Toronto Real Estate Needs: TorontoLivings.com/ 🖥️ Instagram Mark Savel: https://www.instagram.com/torontolivings/ Joey Virgilio: https://www.instagram.com/joey_torontolivings/ 🎙 Weekly Podcast https://podcasters.spotify.com/pod/show/toronto-real-estate #propertytax #torontorealestate #torontopodcast