Mayor Olivia Chow says a 9.5 per cent property tax increase will help her restore some city services and maintain others. If approved by council, it will be the largest increase in over 25 years.
Toronto’s month and a half long budget process will come to an end today, and it could see city councillors approve the largest property tax hike in over 25 years. Toronto's month and a half long budget process will come to an end today, and it could see councillors approve the city's largest property tax hike in over 25 years.
"I think the rate is just right," she said. "I'm hearing that people understand that we need to get the city back on track and invest in services — basic services." "I'm hearing the seniors saying we're going to have difficulty shovelling the snow," she said. "So, we will support restoring it. A lot of councillors are hearing from their constituents."The mayor also reversed course Tuesday afternoon on the contentious debate over the Toronto police budget. After weeks of pushing against it, Chow says she will back a bid to increase the nearly $1.2-billion net budget by $20 million, instead of the $7.
"You can love the police, you can hate the police. But when you need the police, you need the police, and 22 minutes is unacceptable," he said. Meanwhile, Chow continues to signal that she will not use powers granted to her under the "strong mayor" legislation introduced by Premier Doug Ford's government.
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Toronto Mayor Proposes 9.5% Tax Increase for HomeownersToronto Mayor Olivia Chow is set to unveil a budget that includes a 9.5% tax increase for homeowners. This is a decrease from the previously proposed 10.5% increase. The budget will also include a 1.5% increase to the City Building Fund for transit and housing. The total residential increase for 2024 would be the largest since amalgamation.
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Toronto Mayor Proposes 9.5% Tax Increase for HomeownersToronto Mayor Olivia Chow is set to unveil a budget that includes a 9.5% tax increase for homeowners. This would be the largest property tax increase since amalgamation.
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Toronto Mayor Proposes 9.5% Property Tax Hike in 2024 BudgetToronto Mayor Olivia Chow is proposing a 9.5% property tax increase in the 2024 budget to fill a $1.8 billion shortfall. The budget also includes investments in affordable housing and transit.
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