Toronto city council voted to bring in a new surtax on high-value home sales while asking the provincial government for sales tax revenue to help tackle a looming budget crunch.
Mayor Olivia Chow says despite several steps council took during Wednesday’s meeting, the city needs help from the province and federal government to address an estimated $46.5 billion dollars in budget pressures over the next decade.
City council voted Wednesday to ask the province to use its authority to bring in a municipal sales tax for Toronto, or to give the city a portion of its existing Harmonized Sales Tax.
