Toronto Mayor Olivia Chow is proposing a 9.5% tax increase for homeowners in her budget. 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.
This would be the largest property tax increase 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 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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