Toronto homeowners can expect a smaller property tax increase in 2026, with the city’s proposed budget including a 2.2% hike. This is a significant decrease compared to the 6.9% rise in 2025 and the 9.5% jump in 2024. While Mayor Olivia Chow frames this as an affordability measure, aiming to ease the burden on residents already struggling with high living costs, concerns remain about the city’s long-term financial stability. The budget relies heavily on reserves, with some councillors warning about potential future tax increases. The $18.9 billion operating budget also includes a TTC fare freeze and expanded social programs. For more details on the budget and its impact on the GTA housing market, visit the original article on mpamag.com.
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