"The total proposed 2026 operating budget amounts to $18.9 billion, with 31 per cent being covered by property taxes and 24 per cent made up of federal and provincial funding. The rest is made up of smaller measures, including rate programs (12 per cent), transit fares (six per cent), and reserves (nine per cent). Chow submitted her budget proposal on Feb. 1, based on a city staff proposal put forward on Jan. 8."
"Some, including Coun. Brad Bradford, have questioned the timing of the lower increase in a municipal election year, though Chow has not said whether she will seek re-election. This is a pre-election budget. Mayor Chow is trying to buy Torontonians votes, Bradford told reporters on Wednesday. It's not sustainable and it's effectively, you know, burning the furniture to heat the house. And that's not something I would be supportive of. Bradford has previously announced his intention to run for mayor this year."
"Funding increases for TTC and police Along with the property tax increase, the proposed budget also includes funding increases for the TTC and Toronto police. If approved, nearly $1.48 billion will go to the TTC, fully meeting the agency's funding request. That funding would support overall transit operations as well as previously announced affordability measures, including a fare freeze and fare capping."
The proposed 2026 operating budget totals $18.9 billion and includes a modest 2.2 per cent property tax increase. Revenue sources include 31 per cent from property taxes, 24 per cent from federal and provincial funding, and smaller shares from rate programs, transit fares and reserves. The lower property tax rise is enabled by higher taxes targeting home speculators and the top two per cent of luxury homebuyers. The proposal allocates nearly $1.48 billion to the TTC to meet its funding request and includes increased funding for Toronto police. Some councillors criticized the timing in a municipal election year.
Read at www.cbc.ca
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