Toronto budget calls for nine per cent property tax hike

The City of Toronto has proposed a 2024 budget with a nine-per-cent property tax increase for residential properties and a 10-year capital plan of $49.8 billion. The budget aims to achieve financial stability and sustainability through a new multi-year approach. The operating budget includes additional spending on new initiatives, and the capital budget includes a 1.5-per-cent increase for the City Building Fund levy.