TORONTO PROPERTY TAXES SET TO RISE 5.5% THIS YEAR, AVERAGE HOMEOWNER TO PAY ANOTHER $233

Jan 10, 2023

By Bob Komsic

Share on
Toronto’s spending plan for this year will see property taxes go up the most since amalgamation.

The 2023 operating budget totals $16.16-billion and is based on a 5.5% hike in the residential property tax rate.
Tack on a previously approved 1.5% increase in the City Building Fund for long-term housing and transit, the average homeowner will be paying an extra $233 this year.
The proposed budget goes to a city council meeting February 14.
Under new ”strong mayor” powers from the province, John Tory can veto changes to the budget; unless they’re supported by two-thirds of council, essentially allowing him to pass the budget he wants.
The mayor says he won’t budge when it comes to the size of the proposed property tax hike or the increase to the police budget, but is open to other suggestions.
Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: