The city of Toronto has finally clued in — if you want change, you need to be willing to make the unpopular decision to pay for it. As the mayor said in a speech Thursday afternoon, “If we are to achieve those goals we have to acknowledge that things we need, from transit to affordable housing, are not free. Pretending otherwise is not responsible and it’s not fair to the people of Toronto.”
Mayor John Tory chose to announce a new proposal to find much-needed revenue to help pay for the new transit network being built in the city at a luncheon at the Toronto Region Board of Trade Thursday afternoon.
What was this exciting solution? It was tolls.
Tory is proposing a $2 single-use toll to use the Don Valley Parkway and the Gardiner Expressway. This will bring in an approximate $200 million of extra revenue that can be used specifically for infrastructure. This would be a tax on everyone, whether or not they live in the city or not. This will ensure that those who work in the city also contribute to its growth.
“People say that Toronto’s population is approximately 2.8 million. That’s true, at night, when the people who live here are home sleeping,” said Tory. “But by day, the number of people in this city goes up dramatically with all the people who come to work or to visit, all the while using the services paid for by Toronto taxpayers.”
The details of the proposal are still unknown. It will be presented to executive committee next week along with all the other options for revenue tools. The city has to find about $33 billion over the next 20 years to fund capital projects, despite provincial and federal aide.
Mayor Tory has said he will not be considering vehicle registration tax or a parking levy. Two other forms of revenue were proposed during the speech, including a half per cent levy on property taxes and a mandatory hotel tax at all Toronto hotels and short-term rentals like Airbnb.
During a press conference following the speech, the mayor said that doing nothing is not an option. The $2 cost, as well as the functionality of the tolls, will be up for discussion at city council in the upcoming months. Assuming city council sees the value of tolls, Tory hopes to see it implemented as of 2019.
