Is Toronto set for a tax increase? And other key questions about the city budget

What's it going to cost me?

It's the question every Toronto taxpayer asks this time of year as city council sets its annual operating budget.

That process kicks off Tuesday when the proposed document is unveiled and will wrap up on Feb. 14 with a final vote at council. It sets the course for approximately $15 billion worth of city services for the year. And it's always notable for what's left on the cutting room floor as council determines the property tax and service fees you'll pay.

This year, the city faces hundreds of millions of dollars worth of financial pressure. So, here are some burning questions and answers about Toronto's budget.

Yes. 

Barring a last minute change in direction — and acknowledging that council will still need to approve any increase — Mayor John Tory has said he will propose a tax hike.

Tory has made this clear even while making four consecutive funding announcements, with new spending for police, transit, housing and emergency services.

"We've been very clear that while we have been announcing new investments, they come from a very limited pool of additional resources … thanks to the fact there will be a below-the-rate-of-inflation tax increase," Tory said on Friday.

"We've had to make difficult choices," he added. 

Tory hasn't revealed a figure but with inflation in Toronto running at 6.5 per cent, there's a lot of wiggle room. 

Coun. Gord Perks agrees the city will see a tax increase, but he says even that won't be enough to safeguard services. 

Perks has said Tory and previous mayor Rob Ford didn't do enough long-term financial planning to help Toronto cope with its growing population.

"We will see a tax increase … but it will be nowhere near what we need to catch up with 12 years of austerity," he said.

No, but Toronto's finances are complex and increasingly the city has been asked to fund a slew of services with limited means to pay for them.