Toronto Mayor Olivia Chow has tabled her version of the city’s annual budget, maintaining the tax increase at the 2.2 per cent proposed in January.
Under the province’s strong mayor powers, Chow must present her version of the city’s financial blueprint after hearing from staff and budget committee before the final document is approved.
The mayor has the power to overrule the majority of council and veto changes under the rules.
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The document Chow presented, however, is starkly similar to the one presented by staff and her hand-picked budget chief. It maintains a 0.7 per cent tax increase, alongside a 1.5 per cent boost to the city’s building fund.
“Families are feeling the squeeze from the high cost of living. My budget is about making life more affordable for Torontonians,” Chow said in a statement.
The budget includes a fare freeze on the TTC, more measures for renters and home renovations and free school meals.
There are tweaks in the mayor’s version, but no major changes. The property tax paid by small businesses has been reduced, and some money is being allocated to help seniors living at home with tasks like cleaning.
“My 2026 budget delivers real savings: free healthy meals for every child in our public schools, TTC fares frozen for the third straight year — resulting in saving a working couple with two kids $1,200 on groceries and transportation costs,” Chow said in a statement.
The new budget was tabled on Sunday and will be passed by Feb. 10.
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