Toronto Mayor Defends 6.9% Property Tax Increase

Toronto's Mayor Olivia Chow is advocating for a 6.9% property tax increase in 2025 to address budget challenges and outdated property assessments. The average homeowner would see an increase of about $268. To assist those affected, eligibility for financial relief programs will expand, potentially benefiting over 12,300 households. Critics, including Councillor Stephen Holyday, argue the measures are insufficient for many residents facing financial strain. The ongoing freeze on property valuations since 2016 exacerbates inequities in the tax system, prompting calls for reform.