Toronto Budget

• Toronto council finishes deliberations on 2.2% tax increase

  In early January, city staff revealed Toronto's proposed 2026 budget, with a tax increase of 2.2 per cent, drastically lower than the increases approved in the past two years.

  Politics

  Feb 10
  
• Toronto Mayor Olivia Chow tables her version of the city’s 2026 budget

  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.

  Politics

  Feb 2
  
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• Toronto may cancel new community centres, libraries if development funding dries up

  The city's chief financial officer reiterated that roughly $300 million had been deferred as revenue from development charges dries up, adding that some projects may be cancelled.

  Politics

  Jan 23
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• Encampments reported in 48 Toronto parks, a 55% decrease

  Data maintained by the City of Toronto showed the number of encampments, which rose significantly during the COVID-19 pandemic, crept up throughout 2024.

  Politics

  Jan 14
• Ford government move to defer development fees hits Toronto’s park, library plans

  The 2026 budget, unveiled with a 2.2 per cent tax increase on Thursday, suggests staff plan to slash short-term spending plans for parks and libraries to deal with the gap.

  Politics

  Jan 9
• Toronto tables budget with 2.2% tax increase to kick-off election year

  In Toronto, a city-led budget is proposing a 0.7 per cent increase to the general property tax rate and an extra 1.5 per cent for the city's building fund.

  Politics

  Jan 8
• Toronto budget will be tabled with proposed 2.2% tax increase

  The city will table its draft budget on Thursday, laying out the initial increase and spending constraints for councillors to debate.

  Politics

  Jan 7
• Toronto transit budget approved with fare freeze, $1.5B ask of city hall

  The draft budget includes $2.8 billion in spending and $1.4 billion in revenue, meaning Toronto will have to cough up roughly $1.4 billion to plug the gap left by lower funding.

  Politics

  Jan 7
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• Toronto’s mayor vows to prioritize budget over potential re-election bid

  Toronto Mayor Olivia Chow starts her mornings in the City Hall gym and allowed Global News to join her workout to discuss the health of the city and its progress heading into 2026.

  Politics

  Dec 24, 2025
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• Toronto mayor weighs raising tax on home sales over $3M as budget season begins

  Chow's office said this week she was targeting an incremental increase to her so-called luxury homes tax to try and raise $152 million for city hall's coffers.

  Politics

  Dec 4, 2025