Mayor Olivia Chow revealed a mostly unchanged 2025 city budget, maintaining a 6.9% homeowner tax to enhance city services due to public demand. The operating budget stands at $18.8 billion, complemented by a $60 billion capital plan aimed at various improvements, including transit upgrades and affordable housing expansion. While $680 million will address reductions and offsets, Chow defends the tax increase against a $1.2 billion shortfall, noting only minor adjustments like expanded tax relief for seniors and people with disabilities following extensive public consultations.
Mayor Olivia Chow presented a mostly unchanged final version of her 2025 city budget that keeps a proposed 6.9 percent tax for homeowners.
The updated budget maintains an operating budget of $18.8 billion and a $60 billion ten-year capital plan to enhance city services.
Chow stated that 'Tough choices have to be made as we continue to climb out of a decade of neglect,' emphasizing the necessity for the tax increase.
The only major change to the budget is the expansion of property tax relief for seniors and individuals with disabilities.
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