Disparishun
Active Member
Putting $480 on property tax would only provide one pass per property tax household. In my house that would be fine, but it would likely mean I couldn't claim the federal transit tax credit. Also, how would it work for renters who pay property tax indirectly? I could see organisations like OCAP getting geared up since it would essentially be a flat tax.
In terms of one per household: again, if transferable, there would certainly develop a secondary market for the, uh, "T-passes", and you could acquire more that way. The TTC could continue to make regular metropasses available in the same way it does now (at a $110-area price), which would help stabilize secondary pricing for the T-passes. As an alternative there could be the option of purchasing additional T-passes at the $480 price, but I am not certain that that would be a better idea than just letting a secondary market take care of it.
In terms of rentals: if it were transferable, not so much a problem as far as I can see -- it would be the landlord eating the extra cost. The landlord would have the choice to sell it on to the tenants or through the secondary market. Perhaps a rental regulation would need to be passed whereby the tenants have a right of first refusal at zero markup (price paid) -- so that, where secondary market pricing is higher than primary pricing, tenants would not be disadvantaged and could obtain a T-pass on the same terms and conditions as a landowner.