Toronto’s 2025 Budget Calls for 6.9% Property Tax Hike
Toronto Mayor Olivia Chow has unveiled her first budget plan, proposing a combined 6.9 per cent property tax increase for homeowners that includes both a 5.4 per cent general rate hike and a 1.5 per cent city-building levy. She says it’ll work out to about $5.50 more per week for the average homeowner—an attempt to patch a billion-dollar-plus shortfall, while investing in public services. Despite a lighthearted tone about “$5.50 a week,” the scale of new spending is notable: the city’s operating budget is $1.8 billion larger than last year, with a decade-long capital plan exceeding $60 billion.
Mayor Chow emphasizes that this boost will directly support vital services. Toronto residents can expect more frequent TTC service, extended Sunday hours at dozens of public libraries, and summer access to pools and wading pools. The budget also sets aside additional funds for affordable housing, tenant protections, and emergency services, with particular attention given to the police budget and the city’s homeless population.
Following public consultations, council will debate and finalize the plan in mid-February as Ontario law demands a balanced budget. Though some worry about climbing property bills—especially after last year’s steep hike—Chow insists these measures provide long-term gains for Toronto’s future. For now, homeowners can brace for higher taxes but also anticipate stronger city services.
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