Toronto Staff Propose 6.9% Property Tax Increase to Address City Needs
Toronto residents could see a 6.9% rise in their property tax bills under the latest budget proposal unveiled by city staff. The proposed increase includes a 5.4% hike in property taxes and an additional 1.5% levy dedicated to the city building fund, aimed at financing critical infrastructure projects.
Speaking at City Hall on Monday, Mayor Olivia Chow emphasized that the budget prioritizes essential services and community well-being. Key allocations include hiring additional first responders, expanding food programs, and increasing the number of apartment inspectors to ensure better living conditions for renters.
Mayor Chow also highlighted the TTC’s decision to freeze fares for the second consecutive year and the city’s plan to deploy more traffic wardens to alleviate congestion across Toronto.
Budget Chief Shelley Carroll described the proposal as a step toward achieving “fiscal sustainability” while reinforcing vital city services.
The budget will be debated by city council in the coming weeks before a final decision is made.