OPINION: Shedding light on government finances is never a bad idea. Here’s hoping audits will spur a necessary discussion about how Ontario cities raise revenue and from whom.
Over the summer, the Ford government announced the selection of a third-party auditor to investigate the finances of six municipalities — including Toronto — with an eye to clarifying the impacts of its recent housing legislation on city finances.
The multi-phase audit will examine the fiscal impacts of exempting affordable and inclusionary-zoning units, select attainable-housing units, and non-profit housing developments from municipal development charges, parkland-dedication levies, and community-benefits charges and also of reducing development charges for purpose-built rental units.
What third-party audits could tell us about municipal finances — and housing — in Ontario – TVO Today, December 5, 2023
UPDATE – December 13, 2023
Ontario cancels municipal audits launched to understand impacts of its housing laws
The Ford government is cancelling audits it ordered into the finances of some Ontario cities to find out if its housing policy changes would lead to local tax increases.
In an announcement on Wednesday, the government said it was “terminating” audits into the finances of several Toronto-area cities and will engage in new consultations to understand the impacts of legislation it introduced more than a year ago.
“Looking ahead, we’ll continue to work with our municipal partners to ensure that they have the tools and revenue streams needed to get shovels in the ground,” Housing Minister Paul Calandra said.
Ontario cancels municipal audits launched to understand impacts of its housing laws – Global News, December 13, 2023