After nearly three years of freewheeling spending, Mayor Olivia Chow wants to head into Toronto’s fall election with a low-tax budget. That’s after bringing in two of the biggest tax hikes in living memory – 9.5% in 2024 and 6.9% in 2025.
On Thursday morning, Chow will introduce her budget with a proposed 0.7% property tax hike combined with the annual 1.5% city building fund for a combined tax increase of 2.2%.
I do not see hope for recovery. All things considered Toronto’s permanent state of decline was sealed with Chow’s election.
