City orders condo developers to buy annual metropass for every unit

[W. K. Lis]

Excellent.

Metropass program for new condominiums
Council rescinded a mandatory TTC Metropass program for new condominiums in
designated growth areas of Toronto that took effect last year, and directed
staff to provide information to developers about the TTC's discount pass
program. Where a Metropass has already been included in a unit's purchase price,
the City will ensure that buyers are refunded or receive their transit passes.

Yet they want the same developers to pay for the Sheppard Subway extension through an increase in the property taxes in the vicinity of the the construction. Which could be more than the metropass.

 

[AKS]

Yet they want the same developers to pay for the Sheppard Subway extension through an increase in the property taxes in the vicinity of the the construction. Which could be more than the metropass.

I think it's not so much wanting the developers to pay rather than the residents to pay for it. By increasing property taxes, that would mean increasing MPAC assessment values. This in effect would bring in more property taxes. It would be same as downtown. Same percentage of property taxes all over GTA. But assessment values are higher, hence more tax for smaller living space.

 

[CDL.TO]

I think it's not so much wanting the developers to pay rather than the residents to pay for it. By increasing property taxes, that would mean increasing MPAC assessment values. This in effect would bring in more property taxes. It would be same as downtown. Same percentage of property taxes all over GTA. But assessment values are higher, hence more tax for smaller living space.

Municipal taxes do not work that way. An increase in assessed values do not increase tax revenues by one cent. If YOUR assessment goes up more than the average, then YOUR share of the city's total tax bill goes up. The city does not get any extra revenue.

 

[CDL.TO]

I think it's not so much wanting the developers to pay rather than the residents to pay for it. By increasing property taxes, that would mean increasing MPAC assessment values. This in effect would bring in more property taxes. It would be same as downtown. Same percentage of property taxes all over GTA. But assessment values are higher, hence more tax for smaller living space.

Municipal taxes do not work that way. An increase in assessed values do not increase tax revenues by one cent. If YOUR assessment goes up more than the average, then YOUR share of the city's total tax bill goes up. The city does not get any extra revenue.

 

[BMO]

so did they officially get rid of the mandatory metropasses? That's a shame.

 

[js97]

Maybe/hopefully they'll stipulate a development charge that will go directly into a TTC subway expansion capital fund.

Mandatory TTC passes simply go to TTC employees/management. All of which deserve a pay cut anyways.