On Monday Ontario passed Bill 23. A bill intended to spur housing development amid criticism that it will leave municipalities short billions of dollars, increase property taxes and reduce the role of conservation authorities.
Bill 23 will freeze, reduce and exempt fees developers pay. These are the fees that go to municipalities and are then used to pay for services to support new homes, such as road and sewer infrastructure and community centres.
The Association of Municipalities of Ontario says the changes could leave municipalities short $5 billion and see taxpayers footing the bill, either in the form of higher property taxes or service cuts, and there is nothing in the bill that would guarantee improved housing affordability.
