The city is looking ahead to 2023 and already there are signs of some belt tightening.
The Board of Health will consider at its meeting Tuesday a proposed 2023 operating budget that is about $1.23 million less than in 2022 with about 424 fewer positions as it transitions away from pandemic staffing levels.
The TTC has yet to return to the ridership numbers it enjoyed before the pandemic, and land transfer tax revenues are a significant question mark. “It is too early to determine where 2022 Land Transfer Tax revenue will end the year,” Peat said. “2022 started strongly and there has obviously been some change in the interim. Budgeted numbers were set realistically to account for these kinds of fluctuations.”
The Toronto Regional Real Estate Board reported this week that there were 1,894 homes sold in October in the city with an average price of about $1.09 million, compared to 3,782 sales in the same time period in 2021 with an average price of about $1.12 million.
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