PROPOSED $2 TOLL COULD HELP GENERATE $200 MILLION ANNUALLY
Toronto mayor John Tory endorsed plans to introduce tolls for the Don Valley Parkway and Gardiner Expressway Thursday.
A $2 toll would generate approximately $200 million annually, while a mandatory hotel tax could raise an additional $20 million. The funds would help cover the cost of over $30 million in council-approved projects.
“This is fair. This is transparent. And this will help us to build things we need,” Tory said in a speech to the Toronto Region Board of Trade Thursday.
“We cannot keep squeezing services for a growing population from our property tax base alone and we cannot cut vital services that mean so much to people.”
he mayor indicated that in order for the city to generate that much revenue, an alternative method would be to hike property taxes by five to 10 per cent. That’s not an avenue Tory appears to have any interest in exploring.
Expressway tolls would place a greater emphasis on taxing those who use the highways but do not reside in Toronto.