Pantalone promises tax breaks for seniors
In a move that will score him big points with seniors, mayoralcandidate Joe Pantalone has promised, if elected, to freeze propertytax rates for anyone over 65 with a household income of less than$50,000.
In a move that will score him big points with seniors, mayoral candidate Joe Pantalone has promised, if elected, to freeze property tax rates for anyone over 65 with a household income of less than $50,000.
The tax break would cost the city about $250,000 annually and there would be some sort of application process to ensure the system wasn’t being abused, he said.
Pension rates stay frozen, yet taxes are driven up with the market, he said, adding, “This will ensure people can stay in their homes.”
The announcement was part of introducing Pantalone’s seniors’ policy, “Whole City, Whole Lives.”
Speaking to supporters at a café in Little Italy yesterday, Pantalone said Toronto needs to become an “age-friendly city” as it prepares for major demographic shifts coming as baby boomers enter that stage of life.
“Within five years there will be more seniors in Toronto than children,” he said. This is the first major policy announcement from Pantalone since June.