the news that they are eligible for a rent reduction. Toronto's mayor keeps working hard to bring joy and prosperity to the city. Merry Christmas, Your Worship. Don't let the bugs and fleas bite you on January 7th.
Below the note from the mayor's office keeping those of us on his mailing list informed of the goodies he brings to this city.
Even though renters don't receive a property tax bill from the City, they do pay property taxes through their rent. In fact, the property tax rate paid by multi-residential apartment buildings is normally higher than the rate paid by homeowners. I am very happy to say that earlier this week, 136,000 tenant households across Toronto began to receive notices telling them that they are eligible for a rent reduction. This rent reduction is a direct result of our administration's fiscal discipline and focus on keeping Toronto taxes low.
Almost 30% of tenants in Toronto will receive a rent reduction because property taxes on their buildings have been lowered by more than 2.49%. We are committed to making Toronto a more affordable place to live, work and invest. So, our 2013 Budget will keep multi-residential rental property tax increases as low as possible. This is great news for renters, because low taxes on rental properties helps keep rents low in Toronto.
The 2013 budget is also great news for homeowners as we are targeting a very modest tax increase well below the rate of inflation at 1.95 per cent......
Last month, we launched the Mayor's Annual Toy Drive here at City Hall. The efforts of the Toy Drive will ensure that children across Toronto have a special Christmas. I encourage everyone to bring an unwrapped toy, gift or gift card to a drop-off location until December 21. You can drop off your donation at one of the following locations across the City:
City Hall, 100 Queen St. W.
Metro Hall, 55 John St.
Etobicoke Civic Centre, 399 The West Mall
North York Civic Centre, 5100 Yonge St.
East York Civic Centre, 850 Coxwell Ave.
Scarborough Civic Centre, 150 Borough Dr.
York Civic Centre, 2700 Eglinton Ave. W.
Finally, I'd like to invite you to "save the date" for January 1st. On January 1, 2013 we will once again hold the Mayor's New Year's Levee at City Hall. This year, we are hoping to make it even more fun for families and children of all ages by including a family skate on our refurbished Nathan Phillips Square ice rink as well as an opportunity for me, and other members of Council, to "meet and greet" as many of you as I can.
Have a fantastic and safe weekend.
Mayor Rob Ford