Chow says tax hike will be lowered for some Toronto properties to make sure renters don’t see big increases

Toronto Mayor Olivia Chow plans to lower the proposed property tax increase for multi-residential dwellings to prevent big rent increases. The maximum increase will be below 3.75%, and the exact figure is still being worked out. The move aims to help renters who are already struggling to pay for housing. The budget, to be tabled by Thursday, also includes a recommendation for an additional levy if the federal government does not provide funding to help house refugees and asylum-seekers.