Mayor Olivia Chow and Budget Chief Councillor Shelley Carroll, alongside City Manager Paul Johnson and Chief Financial Officer and Treasurer Stephen Conforti, have introduced Toronto's 2025 budget, a comprehensive $18.8 billion operating plan alongside a historic $59.6 billion capital investment.

Fred Alvarado – Local Journalism Initiative

The proposed 6.9% tax hike, comprising a 5.4% residential property tax increase and a 1.5% boost to the City Building Fund, aims to fund crucial projects in transit, housing, and public safety, as outlined in the 2025 staff-prepared operating and capital budgets.

The operating budget includes $94 million in new investments to improve transit, public safety, and community services while addressing affordability. The capital budget, the largest in Toronto’s history, focuses on maintaining infrastructure, supporting climate action, and advancing state-of-good-repair projects.

To enhance affordability, the budget expands food programs for 8,000 more students, increases youth participation through CampTO, and offers rental assistance to 300 additional households via the Rent Bank. Public safety will be strengthened with 300 new emergency services positions, youth violence prevention initiatives, and improved road safety measures. Transit improvements include a 5.8% increase in service hours and more traffic agents to enhance flow and safety. Community services will benefit from extended library hours, increased outdoor pool operations, and expanded cultural programs.

The proposed tax increase will average an additional $17.50 per month for residents. Mayor Chow emphasized that this investment will enhance city services, including maintaining frozen transit fares and extending recreational facility hours.

The budget process encourages public participation, with consultations and reviews ensuring that community priorities are reflected. The final budget presentation is slated for February 1, with a council vote on February 11.

For Regent Park and Downtown East communities, the budget addresses vital needs like affordable living and public safety, fostering a more inclusive environment.