What you need to know about Toronto’s 2025 proposed budget

The City of Toronto's proposed 2025 budget includes a 5.4% increase in property tax for residential properties, alongside a 1.5% City Building Fund levy, totaling a 6.9% increase. This results in an annual increase of $210 for the average home. The budget also features expanded relief for seniors and people with disabilities, a fare freeze for the TTC, and initiatives to improve housing affordability and community services. A special city council meeting is scheduled for February 11 to review the budget details.