City of Toronto Unveils 2023 Budget

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.