Toronto city council finalizes new budget, with 6.9% property tax hike

Council approved a 6.9% property tax increase for 2025 in a 19 to 5 vote, following extensive debate on Mayor Olivia Chow's budget. The $18.8 billion operating budget focuses on transit, police, libraries, and affordable housing, while the $59.6 billion capital budget addresses infrastructure needs. Chow highlighted the challenges faced by residents, including high rent and inadequate services. The budget aims to fill a $1.2 billion shortfall and includes $3 million for councillor priorities, emphasizing the need for collective investment in the city's future.