(AGENPARL) - Roma, 8 Gennaio 2026 -

(AGENPARL) – Thu 08 January 2026 City of Toronto Media Relations has issued the following:
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News Release
January 8, 2026
City of Toronto launches 2026 Budget focused on affordability, service stability and financial sustainability
Today, the City of Toronto officially launched the 2026 Budget with a staff-prepared budget that continues to prioritize affordability, mobility, community safety and sustaining services for residents.
Staff prepared this year’s Budget with input from more than 11,000 residents who participated in consultations held last October.
The Budget Committee was presented with an operating budget of $18.9 billion and a 2026-2035 capital budget and plan of $63.1 billion, the largest 10-year capital plan in the City’s history, to address aging infrastructure and invest in housing, transit and water.
2026 Budget highlights
Highlights of the 2026 Budget include:
– More affordability programs including expanding the student nutrition program to all public schools, freezing TTC fares for the third year in a row, opening all library branches seven days a week and additional support for renters and homeowners.
– Investments in community safety supporting emergency response and neighbourhood safety initiatives.
– Fixing and maintaining aging infrastructure with major capital investment in housing, roads, bridges, transit and water.
– Responsible financial management including efficiencies, reductions and offsets to manage ongoing pressures.
This year’s Budget builds on progress made over the past two Budgets to achieve a balanced budget and strengthen the City’s financial position. Building on the City’s Long-Term Financial Plan, $1.23 billion in operating support through the Ontario–Toronto New Deal and a credit rating upgrade to AA+ that lowers borrowing costs, the 2026 Budget continues a multi-year approach and includes $788 million in efficiencies, reductions and offsets to manage ongoing financial pressures.
Despite these actions, the City continues to face significant challenges including revenue softening in key areas, emergency services and transit pressures, inflationary increases and limited municipal revenue tools.
Property tax impacts and relief
The $18.9 billion operating budget (tax supported: $16.61 billion; rate supported: $2.25 billion) is supported by a 0.7 per cent increase in residential property taxes, helping to protect critical services while continuing to invest in priority areas.
Property tax relief programs remain available for eligible low-income seniors and people with disabilities, supporting more than 10,500 households annually. More information is available on the City’s Tax and Utility Relief webpage: 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.
In addition, a 15 per cent property tax rate reduction will continue for more than 28,000 small businesses. A 15 per cent property tax discount for new multi-residential properties will also continue to promote housing availability.
Historic capital investment
The staff-prepared 2026-2035 capital budget and plan totals $63.1 billion (tax supported: $42.6 billion; rate supported: $20.5 billion) and prioritizes maintaining and repairing aging infrastructure and investing in housing, transit and water.
A dedicated 1.5 per cent levy increase for the City Building Fund, endorsed by Toronto City Council, continues to support transit and housing.
In total, the combined residential property tax increase and City Building Fund levy represent an increase of approximately 2.2 per cent, or about $91.53 per year ($7.63 per month), based on the Municipal Property Assessment Corporation’s average current value assessment of a Toronto home ($692,140).
Interim Toronto Water and Solid Waste rates
As part of the 2026 Budget process, at its December meeting, City Council approved a 3.75 per cent increase to Toronto Water and Solid Waste Management Services rates and fees and a 1.25 per cent increase for participants in the Industrial Water Rate Program. These interim rates took effect on January 1 and ensure the continuity of essential services while the 2026 operating and capital budgets are finalized. The staff-prepared budget maintains the interim rates.
More information is available in the City’s news release: www.toronto.ca/news/city-of-toronto-approves-2026-interim-rates-and-fees-for-toronto-water-and-solid-waste-management-services.
Public participation in the 2026 Budget process
In addition to the public consultations held in October, Toronto residents are encouraged to provide their feedback on the 2026 Budget by:
– Joining a telephone town hall with Mayor Olivia Chow and the Chair of the Budget Committee, Councillor Shelley Carroll (Don Valley North). Call 1-833-380-0687 toll free on:
– Wednesday, January 14, from 7 to 8:30 p.m.
– Thursday, January 15, from 7 to 8:30 p.m.
– Speaking to members of the Budget Committee virtually or in person on Tuesday, January 20 and Wednesday, January 21. Participants must register before 4:30 p.m. on Monday, January 19 and indicate their preferred time and location. Locations, times and registration instructions are available at (www.toronto.ca/city-government/budget-finances/city-budget/how-to-get-involved-in-the-budget).
Budget timeline and Special City Council meeting
Provincial legislation requires the Mayor to present a budget to City Council by Sunday, February 1, with City Council scheduled to consider the 2026 Budget at a special meeting on Tuesday, February 10.
The presentation from today’s 2026 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/2026/bu/bgrd/backgroundfile-261523.pdf).
More information about the 2026 Budget is available on the City’s 2026 Budget webpage: www.toronto.ca/budget.
Additional details about the 2026 Budget process are outlined in the 2026 Budget backgrounder: www.toronto.ca/news/city-of-toronto-2026-budget-process.
Quotes
“Families are feeling the squeeze from the high cost of living. That’s why I’m focused on making life more affordable for Toronto families. Our 2026 Budget delivers real savings: free healthy meals for every child in our public schools, TTC fares frozen for the third straight year and seven-day-a-week library access at no cost. We’re expanding support for renters and offering grants to help homeowners protect against basement flooding and upgrade aging furnaces. The 2026 budget continues our work to deliver a more affordable, safe and caring city.”
– Mayor Olivia Chow
“This budget is about being responsible with public dollars while protecting the services people rely on every day. At a time when families and businesses are feeling real cost pressures, the City is focused on managing expenses carefully, enhancing community safety and investing in the basics that support good jobs and a strong local economy.”
– Councillor Shelley Carroll (Don Valley North), Chair of the Budget Committee