Toronto Mayor Olivia Chow unveiled the city’s 2026 budget on Monday, highlighting a modest 2.2% property tax increase. The budget, released on the city’s website, focuses on maintaining affordability for Torontonians.
This budget marks the lowest property tax hike since 2020, contrasting with higher increases in previous years. Mayor Chow emphasizes that the budget aligns with inflation rates and aims to address the financial concerns of residents.
Chow’s vision for the budget emphasizes the importance of making city living accessible to everyone who works in Toronto, reflecting on the promise of affordability for all.