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City of Toronto Media Relations has issued the following:
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News Release

January 13, 2025

City of Toronto launches 2025 Budget process, prioritizing investments on affordability, transportation, safety and community services

Today, the City of Toronto officially began the 2025 Budget process with a staff-prepared budget that prioritizes investments to make life more affordable, get Toronto moving, keep people safe and provide community services. Staff also introduced the largest 10-year capital budget and plan in the City’s history that prioritizes state-of-good repair (SOGR) and climate action.

The Budget Committee was presented with a staff-prepared rate and tax-supported operating budget of $18.8 billion and a 2025-2034 capital budget and plan totalling $59.6 billion for consideration, review and recommendation.

The 2025 staff-prepared budget continues a multi-year planning approach for the City to achieve financial stability and sustainability, reflects input from the October 2024 consultations and continues to build on the City’s Long-Term Financial Plan and the Ontario-Toronto New Deal Agreement.

Investing in what matters to Torontonians
The 2025 operating budget of $18.8 billion (tax supported: $16.6 billion; rate supported: $2.2 billion) includes new and enhanced investments of $94 million to reflect the input from Toronto residents during the October consultations. These investments will:

Make life more affordable
• Feed 8,000 more students through school food programs
• Feed youth through CampTO food programs
• Support 300 more households through the Rent Bank program

Get Toronto moving
• Increase transit service hours by 5.8 per cent (approximately half a million hours)
• Add more Traffic Agents to address blocked intersections, improve travel times in key corridors and decrease collision

Keep people safe
• Add 276 more Emergency Services positions (fire, police and paramedics)
• Invest in youth violence prevention programs
• Expand road safety programs

Provide community services
• Extend Sunday service hours at 67 Toronto Public Libraries
• Enhance cleaning at recreational facilities
• Expand hours for outdoor pools by two hours daily
• Increase access to cultural initiatives including local arts, festivals and events.

The staff-prepared operating budget is supported by a property tax increase of 5.4 per cent for residential properties, aligning Toronto with other Greater Toronto and Hamilton Area municipalities. This results in an increase of $210 annually for the average assessed value of a Toronto home ($692,031) or approximately $17.50 per month.

The City offers property tax increase relief programs for eligible low-income seniors and people with disabilities. More details about these programs are available on the City's Tax and Utility Relief website: https://www.toronto.ca/services-payments/property-taxes-utilities/property-tax/property-tax-water-solid-waste-relief-and-rebate-programs/property-tax-and-utility-relief-program/.

The budget also includes base property tax increases of 2.7 per cent for multi-residential properties, 2.7 per cent for commercial properties and 5.4 per cent for industrial properties while continuing to provide a 15 per cent reduction in property tax rates to benefit over 29,600 small businesses.

Historic capital investment
The staff-prepared 2025-2034 capital budget and plan makes a historic investment of $59.6 billion (tax supported: $40.2 billion; rate supported: $19.4 billion), a $9.8 billion increase compared to the previous budget and plan. It prioritizes SOGR, dedicating 54 per cent ($32.4 billion) to maintain critical city infrastructure and makes investments to reduce approximately 160,725 tonnes of greenhouse gas emissions.

The capital budget and plan invests:
• $4.9 billion in transit and mobility
• $2 billion in key projects for community services
• $2.9 billion in other investments, including Flood Protection and Net Zero initiatives.

A 1.5 per cent increase in the City Building Fund levy – dedicated to transit and housing – supports these investments. This levy increase will result in an additional $58.37 for the average assessed value of a Toronto home, or $4.86 more per month.

Public participation in the 2025 Budget process
In October 2024, Toronto residents had the opportunity to provide their input on the City’s 2025 Budget. Six sessions were held – four in-person and two virtual – across the city, with participation from 763 individuals. An online survey received 12,001 responses including 9,165 ideas submitted in 12 languages. Additionally, 331 participants joined 13 local discussions facilitated by Indigenous, Black and equity-deserving community organizations to date.

Toronto residents are encouraged to remain engaged and continue to share their feedback on the 2025 Budget through the following opportunities.

Two telephone town halls will be held:
• Wednesday, January 15, from 7 to 8:30 p.m.
• Thursday, January 23, from 7 to 8:30 p.m.

At these telephone town halls, Mayor Olivia Chow and Councillor Shelley Carroll (Don Valley North), Chair of the Budget Committee, will be joined by senior City staff to provide an overview of the staff-prepared 2025 Budget and offer participants the opportunity to ask questions and provide feedback. Toronto residents can call 1-833-380-0687 toll-free during the scheduled times to participate.

Toronto residents can also address members of the Budget Committee in person or by video conference on Tuesday, January 21 and Wednesday, January 22, at locations across the city.

Public meetings will take place from 9:30 a.m. to 12:30 p.m., 1:30 to 4:30 p.m. and 6 p.m. onwards on the following dates:
• Tuesday, January 21:
o Toronto City Hall, Committee Room 1, 100 Queen St. W.
o Scarborough Civic Centre, Council Chamber,150 Borough Dr.
• Wednesday, January 22:
o Etobicoke Civic Centre, Council Chamber, 399 The West Mall
o North York Civic Centre, Council Chamber, 5100 Yonge St.

Speakers are asked to register and indicate a preferred day and timeslot by emailing: buc@toronto.ca or calling: 416-392-4666 before 4:30 p.m. on Monday, January 20. Individuals may only make one presentation and will be provided with instructions on how to join the meeting.

The meeting will be streamed live on the Toronto City Council YouTube channel: www.youtube.com/TorontoCityCouncilLive.

Written comments can be submitted to the Budget Committee by email: buc@toronto.ca or by mail: Attention Budget Committee, Toronto City Hall, 100 Queen St. W., 10th floor, West Tower, Toronto, ON M5H 2N2.

Comments can also be provided to Members of Council. Contact information is available from 311 and on the City's Members of Council webpage: www.toronto.ca/city-government/council/members-of-council/.

Provincial legislation requires Mayor Olivia Chow present a budget by Saturday, February 1, for City Council’s consideration during a special meeting, which will be held on Tuesday, February 11.

The presentation from today’s 2025 Budget launch by City Manager Paul Johnson and Chief Financial Officer and Treasurer Stephen Conforti is available on the City’s website: www.toronto.ca/legdocs/mmis/2025/bu/bgrd/backgroundfile-252133.pdf.
A backgrounder on the 2025 Budget process can be found on the City’s Media Room webpage: www.toronto.ca/news/city-of-toronto-2025-budget-process.

Additional information is available on the City’s 2025 Budget webpage: www.toronto.ca/budget.

Quotes

“The 2025 Budget will mean change in Torontonians’ lives today. Change means libraries open 7 days a week, transit fares frozen while TTC service increases, thousands more kids fed meals at school and summer camps, pools open sooner and longer. Renovictions prevented by taking housing off the market and more support for tenants. Traffic agents to keep Toronto moving. Emergency responders arriving sooner when you need them most.”
– Mayor Olivia Chow

“This budget is a commitment to building a stronger, more liveable Toronto - one that balances fiscal responsibility with real investments in affordable living, safer streets and better transit, reflecting the priorities of the residents we serve.”
– Councillor Shelley Carroll (Don Valley North), Budget Committee Chair

Toronto is home to more than three million people whose diversity and experiences make this great city Canada’s leading economic engine and one of the world’s most diverse and livable cities. As the fourth largest city in North America, Toronto is a global leader in technology, finance, film, music, culture, innovation and climate action and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. For more information, visit www.toronto.ca or follow us on X at x.com/cityoftoronto, on Instagram at www.instagram.com/cityofto or on Facebook at www.facebook.com/cityofto.

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