City of Toronto Unveils 2023 Budget

Toronto City Hall and Nathan Phillips Square
– 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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