Jan 31, 2024
By Bob Komsic
Olivia Chow reportedly intends to take 1% offer the earlier property tax hike recommended by city staff three-weeks ago.
Instead, the mayor will propose it be 9.5% when she reveals the rest of her version of this year’s budget Thursday morning in Scarborough.
That’s the one that will be going to city council Valentine’s Day.
Dropping the 1% would still mean the highest property tax hike in Toronto history.
It would also mean the annual cost to the average homeowner would be about $338, down from $372 or $34 less.
Under the strong-mayor system, a majority of councillors can amend it, then Chow has up to 10-days to, if she chooses, veto the council amendments.
Council could still override a mayor’s veto but only with support of at least two-thirds of councillors.