Toronto Approves 2026 Spending Plan, Raises Property Taxes by 2.2%
Toronto city council has adopted the mayor’s 2026 budget, which includes a modest property tax increase, caps on public transit fares and more money for the police.
The budget includes a 2.2 per cent property tax hike, compared to a 6.9 increase last year and a 9.5 increase in 2024.
The city has said that increase comes out to about $91.53 more a year for an average Toronto home with an assessed value of $692,140.
The budget includes a freeze on Toronto Transit Commission fares, including a fare cap at 47 rides in a calendar month that will kick in later this year.
The budget also has measures to mitigate homelessness, open libraries seven days a week and add more funding to hire hundreds of new police officers and paramedics in a multi-year plan.
Mayor Olivia Chow has defended the funding hike of more than $93 million for the Toronto Police Service amid a recently revealed corruption probe that led to charges against seven current officers.
Chow has said the city has to honour the police force’s collective agreement and hiring plan.
This article was first reported by The Canadian Press
The Canadian Press
