Driving Naari Programme launched in Chandigarh
Mayor John Tory says he will push for the introduction of a 0.5 per cent property tax levy to help pay for the construction of transit and housing in the city.
The tax increase, which would not come into effect until 2017, would cost the average homeowner an additional $13 a year and would generate tens of millions of dollars in additional revenue for the city, according to a press release.
“We need to get serious about building a city of the future. That means building transit, which is the single most effective way to cut congestion, and adding more affordable housing, while repairing our existing stock,” Tory said in the release. “People also want to know their tax dollars are being used effectively. By creating a dedicated fund for transit and housing – we are doing just that.”
The creation of the fund and the implementation of the tax hike still needs to be approved by city council.
