Budget 2024 Reinvests in Vital City Services
On February 14th Council considered Mayor Chow’s budget. The last 10 years has seen deteriorating City services as a result of lower than inflation property tax increases. We’ve all experienced overflowing garbage cans, longer wait times for transit, locked park bathrooms and roads in disrepair. That's not good enough for Toronto.
Council had a choice this year: allow Toronto’s decline or get our city back on track. The budget was initially proposed by city staff to have a tax rate increase between 10.5% - 16.5%. I was pleased to see that the rate that was ultimately decided on was only 2.5% higher than the previous years budget. This amounts to an increase of $285 annually for the average Toronto home or the equivalent to a monthly increase of $23.75. This rate both recognized what we need to do for our city but also acknowledged the impact the economy is having on so many residents.