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toronto property taxes

John Tory has officially submitted his resignation as Mayor of Toronto and word of that decision came down moments after he approved one of the largest Toronto property tax increases in years.

The 68-year-old is now set to step aside as mayor one week after coming clean about his affair with a 31-year-old staffer during the pandemic despite support from some allies, like Ontario Premier Doug Ford, to stay on.

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On Tuesday, Toronto released its proposed budget for 2023, and things are not looking good for local wallets. So, prepare for a dent in your savings, folks.

According to the city's budget launch presentation, Toronto is planning to invest billions of dollars into its infrastructure this year while prioritizing areas like front-line and emergency services, transit, housing, COVID-19 impacts, and economic recovery.

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Taxes, taxes, taxes. It's that time of year again for Toronto homeowners to be shelling out cash to pay their property taxes, and there are a few ways that they can make that happen.

So if you're a first-time homebuyer or just don't how to make those payments, don't worry because we've got you covered.

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Toronto City Council just approved a budget for 2022, and some residents will be paying a little more on their taxes this year.

In a news release posted on February 17, city officials revealed there will be a property tax increase this year for residential properties, but also some new investments that should make Torontonians' lives a little bit easier.

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