Toronto City Council is debating Mayor Olivia Chow’s proposed budget, which includes a 6.9% tax hike. The budget also includes funding for expanded food programs, longer public pool hours, more parks staff, a freeze on TTC fares, and more traffic wardens.
Toronto City Council is currently engaged in deliberations regarding Mayor Olivia Chow's proposed budget for the fiscal year. A key point of contention is the proposed 6.9 percent tax hike, comprising a 5.4 percent property tax increase and a 1.5 percent increase to the city-building fund. This follows a 9.5 percent tax increase implemented the previous year. The city estimates that this hike would result in an additional $268.
37 per year for the average homeowner with an assessed value of $692,031.The operating budget has shown an $1.8 billion increase compared to the previous year, largely attributed to inflation and growth. Despite the substantial increase, the budget allocates funds for various initiatives, including expanded food programs, extended public pool hours, increased park staff, a freeze on TTC fares, additional traffic wardens, and wage increases for city employees as per union agreements.Council proceedings have been marked by several motions and debates. Notably, Mayor Chow's motion to exclude new Tesla vehicles from eligibility for vehicle-for-hire licensing grants from the city was approved with a 20-4 vote. This decision aims to send a message to the White House, particularly to Tesla CEO Elon Musk. Councilors have also introduced motions addressing concerns about reserve funds stability in the face of potential U.S. tariffs, reduced industrial taxes, and the impact of repeated tax increases on residents. A motion to cut two points off the property tax increase by finding $92.9 million was also proposed. Amidst the budget deliberations, the council meeting was briefly disrupted by a group of masked protesters who voiced their discontent over the city's handling of homelessness and poverty. Security promptly intervened and removed the protesters from the chamber. The demonstration underscored the complex social issues intertwined with the city's financial planning
TORONTO CITY COUNCIL MAYOR OLIVIA CHOW BUDGET TAX HIKE TESLA TTC HOMELESSNESS
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