Toronto, ON: The Canadian Taxpayers Federation is calling on Toronto city councillors to reject Mayor Olivia Chow’s proposal to increase residential property taxes by 10.5 per cent this year.
“The last thing cash-strapped families can afford is a massive property tax hike,” said CTF Ontario Director Jay Goldberg. “Toronto families are struggling with the soaring costs of everything from groceries to home heating. City hall should be looking for ways to help, not making those struggles much tougher with a huge tax hike.”
The average home price in Toronto was $1,084,692 in 2023. A family that owns that home would see property taxes rise by $758 under Chow’s plan.
“The average family’s grocery bill will be up by $700 this year,” Goldberg said. “More than 400,000 Ontarians are working more than one job just to make ends meet. Hardworking taxpayers cannot afford to fork out hundreds of dollars extra in property taxes to fund Toronto’s bloated budget.”
Chow’s proposed property tax increase is the largest since the Toronto was amalgamated in 1998.
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