Toronto city councillors are set to vote on Mayor Olivia Chow's proposed 2025 budget, which includes a controversial 6.9% property tax increase. This budget, totaling $18.8 billion, addresses a $1.2-billion shortfall through various efficiencies and revenue enhancements. While it aims to boost funding for essential services like transit and affordable housing, some council members, including Vincent Crisanti and Brad Bradford, have raised concerns about the tax hike, suggesting potential cuts in other areas to relieve the financial burden on residents and businesses, especially amid economic uncertainties.
"I think the choice is clear. We need to invest in children, feed more kids, build more housing and make TTC better," said Chow.
Coun. Vincent Crisanti expressed support for the student nutrition program but suggested possible budget cuts elsewhere to reduce the proposed tax increase.
Coun. Brad Bradford proposed a 25% cut in property taxes for small and industrial businesses to mitigate potential impacts of U.S. tariffs.
The city faces a $1.2 billion budget shortfall, necessitating a blend of efficiencies and revenue increases in the 2025 budget.
Collection
[
|
...
]