Toronto Mayor Olivia Chow has unveiled a property tax hike lower than what officials initially proposed, while thanking the federal government for new money for asylum seeker shelter support.
Chow's proposed increase – an 8 per cent property tax hike plus 1.5 per cent for the city building fund – is lower than the 10.5 per cent initially tabled by city staff.
The announcement comes after the federal government on Wednesday, under pressure from Chow, said it would spend $362 million to help cities and provinces house asylum seekers, without specifying how much would be earmarked for Toronto.
Chow says the details are still being worked out, but the money will support the nearly 6,000 refugee claimants currently in Toronto's shelter system.
Chow's budget chief had previously warned property taxes could be hiked by an additional six per cent if the federal government did not reimburse $250 million the city anticipates spending on refugee claimant shelter response this year.
City council will discuss the budget on Feb. 14.
This report by The Canadian Press was first published Feb. 1, 2024.
The Canadian Press
