But is a house really an asset if it's mortgaged to the hilt? In which case, perhaps the mortgage holder should be paying their share!
The proper comparison is what the average (mean ... or median) valued home pays in municipal taxes. Toronto get's close to this as they occasionally publish these numbers for various communities - but it would have more meaning if it removed the education taxes (which would then expose that Toronto average taxes are even lower than one would think!).
The bottom line though, is that a house in Pickering with a 60-foot street frontage and a deep lot, are going to disproportionately use a lot more city services than than a Toronto-house with a 14-foot wide shallow lot.
Of course there's other taxation alternatives, such as a municipal income tax and sales tax (both of which we see in some USA cities). An asset tax would be tough if it went beyond property - on the other hand, it might help densify areas like Bridle Path - currently a transit desert.
This is true. And this is what you'd expect, with the economies of scale you get with densification. Look at the per ride cost of running public transit in Toronto compared to York Region. If the Toronto subsidy per ride was as high as York Region, they'd be paying us to take the TTC!
That being said, I do think Toronto municipal taxes are too low. And in the absence of a completely new source of income (like using road tolls or annual mileage fees) to pay for transit, we need to raise municipal taxes to fund TTC, not to mention other department that have taken the brunt of funding cuts over the years, like the library system (which also is impacted by the current social issues, and is a de-facto service provider to the poor these days). And park maintenance (simple things like emptying garbage cans, and keeping bathrooms running - again related to the current social issues).
The current move to cut TTC service (far beyond that necessary to match pre-Covid service to current ridership) is short-sighted and will only make the city even more unlivable.
Absolutely!
And it's far beyond TTC. The province's recent move to again cut into Toronto's own funding stream from development charges is obscene.