Toronto·Breaking The City of Toronto is suggesting a property tax hike of 2.2 per cent in its 2026 budget, as stated by the mayor’s office. This comes after Olivia Chow mentioned in late 2025 that a more manageable tax increase would be on the way, with elections approaching in October. Estimated 1 minute
In late 2025, Mayor Olivia Chow said the upcoming budget for 2026 would feature a milder property tax increase compared to previous years. (Evan Mitsui/CBC)
The proposed tax increase includes a 0.7 per cent rise in residential property taxes and a 1.5 per cent boost to the city building levy.
This hike would be significantly lower than what Chow has proposed during her tenure. The budget for 2024 had an increase of 9.5 per cent, marking the highest jump in over two decades due to a $1.8 billion deficit. In contrast, her budget for 2025 included a rise of 6.9 per cent.
“The 2026 budget is about making life more affordable for Toronto families,” the mayor said in a statement. “I hear from Torontonians every day about the stress they feel trying to keep up with the rising cost of living.”
More details will follow.
ABOUT THE AUTHOR
Lane Harrison is a reporter with CBC Toronto who primarily covers municipal and provincial politics. Born and raised in Toronto, he joined CBC in 2022 as a Joan Donaldson Scholar after an internship with the Globe and Mail. You can reach him at lane. harrison@cbc. ca
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