Toronto Mayor Olivia Chow's first budget comes to city council for one final debate on Feb. 14. The spending package includes a proposed property tax hike of 9.5 per cent.
Mayor Olivia Chow's first budget since winning the city's top job will come to council for one final debate Wednesday, and that could see council adopt the highest tax hike for Torontonians in over 25 years.Toronto Mayor Olivia Chow's first budget comes to city council for one final debate on Feb. 14. The spending package includes a proposed property tax hike of 9.5%.
"If we cut deeper, we could be cutting a bone and hitting the marrow," she said. "It would damage our city, and we can't do that." The tax rate will be the highest since amalgamation in 1998, but it is a point lower than the suggested staff rate from last month. The mayor could be sending a message to councillors that if they want to add anything on the council floor there will be a cost, Siemiatycki said.
Over the last week, councillors have been working to find approximately $4 million in funding to save windrow snow clearing, which is on the chopping block in Chow's budget. "That's a service that a lot of seniors depend on in this city," he said. "I've been quite clear with the mayor that the window service has to stay in the budget."
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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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