City of Toronto Unveils 2023 Budget
– Photo Credit: City of Toronto
The City of Toronto has unveiled a $16.1-billion operating budget for 2023 and it includes a 5.5 percent property tax increase for homeowners.
The tax hike will add another $183 to the average homeowners property tax bill.
There is also a previously announced 1.5 percent hike, or another $50, through the City Building Fund, which helps build transit and housing.
As well, water and garbage rates will increase.
Mayor John Tory says he recognizes that it is a significant increase for homeowners, but it does deliver on a re-election campaign pledge to keep taxes below the inflation rate, which currently sits at 6.6 percent.
Highlights of the City’s tabled 2023 Budget:
• Increase the Toronto Public Library budget by $8.5 million to cover both increased spending and COVID-19 pandemic-related costs.
• Protect the Winter Maintenance budget to continue providing expanded sidewalk snow clearing across the city.
• Hire up to 200 firefighters in 2023 (including 52 new positions, part of a three-year plan to add 156 new firefighters to Toronto Fire Services’ complement).
• Hire up to 250 paramedics in 2023 (including 66 new positions).
• Hire 200 more police officers and 20 additional 911 operators.
• Prioritize TTC service on routes in communities that need it most.
• Hire 10 additional Streets to Homes outreach workers to help vulnerable people on the transit system.
• Increase housing supply through $18.85 million in funding for the Multi-Unit Residential Acquisition program.
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