A Tale of Two Taxes



    Tory's Miserly Approach Hurts Fixed Income Seniors, Vulnerable; Helps
    Himself

    TORONTO, Sept. 24 /CNW/ - John Tory isn't being honest with Ontarians
about his 5% assessment cap: it would cost you $2,000 more - and save him
$10,000.
    Under the terms of the unfair Conservative scheme, people on fixed
incomes would be hit hardest by Tory's plan. Under Tory's plan, Rexdale ends
up subsidizing Rosedale.
    Here's how:
    According to the Toronto Real Estate Board, the average GTA house is
worth $364,000. How would those homeowners be affected by the Tory
help-the-rich plan?
    If that value increases 5% every year, at current Toronto tax rates, the
average homeowner - including seniors and those on fixed incomes, who can
ill-afford any big increase in property taxes - would pay almost $2,000 more
in property taxes over four years.
    But John Tory seemingly doesn't care. On the country estate property on
Lake Simcoe that he uses for vacations and golf getaways, he would end up
saving himself $10,000 (see attached image).
    So instead of increasing from $767,000 to $1.2 million as it did last
year, his assessment would "only" increase to $932,000. Over four years he
would save almost $10,000.
    To recap: John Tory saves himself $10,000. Meanwhile, hard working
Ontarians - including seniors and those on fixed incomes - pay $2,000 more.
Tory benefits. You pay.
    Under John Tory's scheme, seniors could get phone calls from their bank,
saying they can't live in their house any more.
    Meanwhile, Ontario Liberals increased the seniors property tax credit by
25% to $625 (which the Conservatives voted against), and are taking the next
step: creating a new homeowners grant for seniors who have trouble paying
their property taxes, to help them stay in their homes.
    The Conservative property tax scheme is yet another example of John
Tory's questionable judgment.

    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/





For further information:

For further information: Ben Chin, (416) 961-3800 ext. 412,
ben_chin@ontarioliberal.ca

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