Council votes today to scrap unpopular tax
It will cost $64 mil in 2011 in lost revenue, refunds
(Written for Town Crier Dec. 16)
Mayor Rob Ford got his first win today as council voted 39-6 to scrap the vehicle registration tax as of Jan. 1.
“It’s a great day for the taxpayers of Toronto,” he said in a media scrum Thursday afternoon. “We just put $64 million back into their pockets and they can do what they want. They can create jobs and stimulate the economy or they can save it.”
“I’m glad we finally got rid of it and I look forward to saving the taxpayers more money in the next four years,” he said. “I just want to bring back respect for taxpayers at city hall.”
It will cost the city $64 million to repeal the tax, $48 million in lost annual revenue plus $12 million for refunds for car owners who paid their 2011 tax in advance. The city doesn’t yet know how it will make up the revenue, but that will be dealt with during the budget process.