Toronto’s proposed 2025 budget includes 6.9% property tax increase
The City of Toronto is proposing to increase property taxes by 6.9 per cent this year to help fund its $18.8-billion operating budget for 2025.
The proposed hike includes a tax increase of 5.4 per cent on residential properties, which would cost $210 more annually for an average home with an assessed value of $692,031.
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