On January 13, 2025, Toronto initiated its 2025 Budget process, proposing a 6.9% property tax increase, which includes 5.4% for residential properties and 1.5% for city building levies. This increase aims to support various programs, including the Rent Bank and youth services, with $94 million allocated for affordability and infrastructure. The 10-year capital budget totals $59.6 billion, focusing on state-of-good repair and climate action. Homeowners with an average property value will see an additional $210 annually.
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