Toronto City Council is debating Mayor Olivia Chow's proposed budget, which includes a 6.9% tax increase to cover a growing operating budget. The increase, comprised of a 5.4% property tax hike and a 1.5% increase to the city-building fund, is sparking debate among councillors who question the necessity of such a substantial increase amidst economic uncertainties.
February 11, 2025 at 6:17AM ESTToronto City Council is considering Mayor Olivia Chow’s latest budget, which includes a proposed 6.9 per cent tax hike.
has grown by $1.8 billion compared to last year. City staff say much of that is the result of inflation and growth. He said this is not the year for “big changes” and said a 6.9 per cent tax increase feels like more instability to many people. Trump has been threatening Canada with tariffs since taking office and signed an executive order Monday imposing steel and aluminum tariffs on Canada.
Chow said the move will not affect taxi drivers who already own Teslas and operate them under the program.
TAX HIKE BUDGET TORONTO CITY COUNCIL MAYOR CHOW ECONOMIC UNCERTAINTIES
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