The city of Toronto has launched their 2025 Budget on Monday January 13 and there's some information that Toronto Home Owners Should Know!
Overall the city outlines that it plans $18.8 billion in proposed spending on city operations this year. The budget reflects her priorities of spending more on transit, housing, emergency services and social programs.
Although there will be a lot of spending on transit and low income housing, it seems like the biggest change in revenue will come from Homeowner's Pockets.
The budget includes a 6.9 per cent tax increase, consisting of 5.4 per cent to fund city operations, and 1.5 per cent for the city building fund.
Last year the city of Toronto Raised Property tax by 9.5 per cent.
To find the full 2025 City Of Toronto Budget HERE
