Toronto Mayor Proposes 9.5% Tax Increase for Homeowners

Toronto 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.

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 for transit and housing. The total residential increase for 2024 would be the largest since amalgamation.

Source: CP24