Toronto Is Looking At Raising Taxes For 2022 & Here's How Much More You Could Be Paying

Torontonians still have time to share their thoughts about the budget proposals before it gets finalized.

Toronto Staff Writer
Toronto Is Looking At Raising Taxes For 2022 & Here's How Much More You Could Be Paying

While nothing is yet official, the City of Toronto is currently considering some budget proposals that could have Torontonians shelling out extra cash the next time they file their taxes.

In a news release posted on January 13, City officials revealed that they are starting to look into staff-recommended tax-supported budgets for 2022.

This includes the potential to raise property taxes for residents of the city.

If approved, the average Toronto household could pay an extra $93 on their property taxes, which adds up to be about a 2.9% increase. Commercial and industrial properties will also see an increase, too.

On top of that, the budget is also proposing to add a 1.5% increase to the City Building levy, which could put an extra $48 on the average Toronto household's tab. Ugh.

For this year, the grand total of the City's operating budget lends out to be a whopping $14.99 billion, which includes the $1.96 billion of the operating budgets approved by the City Council last December.

This year's recommendations include the following so that the City can continue to:

  • Provide necessary City services throughout the pandemic
  • Invest in their public health sector, which includes continuing to lead its vaccination efforts
  • Add 62 frontline paramedics under the Toronto Paramedic Services Multi-Year Staffing and Systems Plan
  • Invest in shelters to allow for social distancing
  • Boost the transformational work to provide affordable housing
  • Invest in the City's transit system
  • Aid Toronto's economic recovery, especially for small businesses
  • Broaden its digital services for Torontonians and businesses
  • Carry out long-term care reform initiatives and build on the City's Senior Services Unit so they can give quality care to LTC residents
  • Maintain the City's long-term economical sustainability

Torontonians can let out a sigh of relief because the recommendations have not been finalized by City Council yet.

Residents and local businesses can actually share their feedback straight to the City's Budget Committee by either signing up to speak at one of their meetings on January 24 or January 25, shooting them an email, or sending a letter to the City.

Those looking to speak at the meeting have to register by January 21, no later than 4:30 p.m.

A final budget will be approved by City Council on February 17.

This article’s right-hand cover image was used for illustrative purposes only.

Narcity Surveys 📋

Comments 💬

Our comment section is a place to promote self-expression, freedom of speech and positivity. We encourage discussion and debate, but our pages must remain a safe space where everyone feels comfortable and the environment is respectful.

In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Comments are moderated according to our Community Guidelines.

Please note that Narcity Media does not endorse the opinions expressed in the comment section of an article. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a story’s comment section at any time.

First and last names will appear with each comment and the use of pseudonyms is prohibited. By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties.

COVID-19 restrictions in B.C. just changed, and now there is no end date to the current closures and limitations.

There are currently restrictions that limit gatherings and prevent gyms, nightclubs, and bars from opening. Previously, the public health order said that these restrictions would be in place until January 18.

Keep Reading Show less

Narcity may receive a small commission if you purchase something we recommend in this article, which was created by the Narcity Shop team. Items are in stock and prices are confirmed at the time of publishing, but they can change at any time.

Only during a snowstorm do I get jealous of people who live in condos and don't have to worry about shovelling the driveway or front steps.

Keep Reading Show less

4 Places In Toronto Offering Virtual Fitness Classes For Free Or A Hefty Discount

Just because gyms are closed doesn't mean you have to put your workout plans on hold.

Narcity may receive a small commission if you purchase something we recommend in this article, which was created by the Narcity Shop team. Items are in stock and prices are confirmed at the time of publishing, but they can change at any time.

With Ontario gyms shut down due to COVID-19 concerns, it looks like your next sweat sesh will have to be at home. Luckily, a few independent fitness studios are offering free or discounted virtual classes this month.

Keep Reading Show less

An 18-year-old from Langley, B.C. was killed in what police believe to be a targeted shooting.

At approximately 1:30 p.m. on January 7, Langley RCMP received multiple calls to report to the Walnut Grove area.

Keep Reading Show less