Toronto Mayor Olivia Chow's proposed 2025 budget includes a 6.9% tax hike for homeowners, split between a 5.4% property tax increase and a 1.5% 'city building fund' levy. The budget also prioritizes improved TTC service, extended library hours, and increased spending on affordable housing.
The first version of Toronto Mayor Olivia Chow's budget for this year will include a proposed 6.9 per cent tax hike for homeowners, including a 5.4 per cent property tax increase and a 1.5 per cent "city building fund" levy. Toronto Mayor Olivia Chow is set to release her proposed 2025 budget today. Council will vote on a finalized budget in mid-February. The first version of Toronto Mayor Olivia Chow's budget for this year will include a proposed 6.
Improved services will include more frequent and reliable TTC service, libraries that are open seven days a week and pools and wading pools with longer hours through the summer months. The budget will also see increased spending on affordable housing programs and tenant protections.historic 9.5 per cent property tax hike
The city is required by Ontario law to present a balanced budget by the time council finalizes it in February, the municipality cannot run a deficit.Here's what we already know about the budgetoperating budget that freezes fares for a second straight year
TORONTO BUDGET TAX HIKE HOUSING SERVICES
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