Toronto Mayor Olivia Chow recommends to lower proposed tax increase in upcoming budget.

Toronto Mayor Olivia Chow has recommended a property tax rate increase of 9.5% for 2024, down from the previous 10.5% proposed by city staff. The mayor will formally announce the change at a news conference. The proposed 9.5% increase consists of an 8% rise in residential property taxes and a 1.5% city building levy, totalling a 9.5% increase. The mayor has cited affordability concerns in the city as her reason for the reduction.

January 31, 2024
7 Articles