Toronto Residents Will Have To Pay More For Water & Garbage Sevices Starting In 2023

The City of Toronto has just approved an increase to the rates that residents pay for water and waste management services and the higher cost will kick in at the start of 2023.

Effective January 1, Toronto residents will pay 3% more for these services, but the price hike is not set to last forever, the city announced Wednesday.

"The rates and fees will take effect Sunday, January 1, 2023, and are considered interim until the City of Toronto's 2023 rate-supported operating and capital budgets are approved next year," the city said in a news release.

It's not clear exactly how long the cost bump could last, but the city explained it's doing this now to "avoid a larger increase later in 2023" once the final budget gets approved.

So how will these increased rates affect your bottom line?

According to the city, a 3% increase will cost the average home that uses a small garbage bin $8.35 more than in 2022. That increase jumps to $10.14 extra for a household using a medium-sized bin and $13.77 for any home using an extra-large bin.

As for the increased water fee, the city said that will run the average household $29 more per year.

In total, a large household could be forking over somewhere closer to $2,000 annually for just these two services.

The city said these rates will be considered part of the 2023 budget process which launched on January 10. During that process, the rates could be changed by council while residents and businesses will also have a chance to provide their own feedback.

Mayor John Tory had previously hinted that Toronto residents could be facing "massive tax increases" as a result of the money lost over the course of the pandemic, he also called on the provincial and federal governments for more funding.

Since then, the province has chipped in, but the feds haven't.