Particle.news
Download on the App Store
4 ARTICLES
·
last mo.

Toronto Tables 2026 Budget With 2.2% Property Tax Hike

The plan combines a smaller levy with a TTC fare freeze under rules that give the mayor decisive budget authority.

A worker uses a snowblower to clear snow from Nathan Phillips Square at city hall following a heavy snowfall in Toronto, on Thursday, Feb. 13, 2025.
Toronto Mayor Olivia Chow is photographed in her office in Toronto's City Hall, on Dec. 19, 2024.
The Toronto skyline is seen on Monday, Aug. 5, 2024. THE CANADIAN PRESS/Chris Young

Overview

  • The draft sets a 0.7% general levy alongside a 1.5% increase for the city’s building fund, for a total property tax rise of 2.2%.
  • The operating blueprint totals $18.9 billion and outlines priorities such as seven-day library access, more free student meals, and multi-year hiring of police and paramedics.
  • Transit fares would be frozen for a third year, with fare capping at 47 rides per month in 2026 and 40 in 2027.
  • City officials opened public feedback through Jan. 24, the mayor has until Feb. 1 to present her version under strong-mayor powers, and a final vote is scheduled for Feb. 10.
  • The city pegs the increase at about $91.53 for a home assessed at $692,140, noting the hike is lower than last year’s and below recent GTA comparators.