Toronto Passes 2024 Budget, 9.5% Tax Hike For Residential Properties

After more than a month of build up, Toronto is forging ahead with a 9.5% hike to the residential property tax rate — the highest increase since the city was amalgamated in 1998. Mayor Olivia Chow first floated the 8% increase (to be combined with a 1.5% increase for the City’s building levy) when s…