Toronto's proposed 2025 budget includes 5.4% property tax increase
CBC
The first version of Toronto Mayor Olivia Chow's budget for this year will include a proposed 6.9 per cent tax hike for homeowners, the city's budget chief said Monday morning.
That includes a 5.4 per cent property tax increase and the annual 1.5 per cent "city building levy," Coun. Shelley Carroll said at a news conference alongside Chow.
The proposed increase comes on the heels of last year's historic 9.5 per cent property tax hike, the highest in decades.
Chow and city staff will release the full details of the proposed budget later this morning.
More to come.
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