If the city's budget is approved as-is, your taxes will go up 2.2 percent
The average household could see their property tax bill go up by $69 dollars this year, if the city approves its proposed budget.
That amount is for a home valued at $698,000.
The proposed tax increase this year is 2.2 percent, including a 0.7 percent residential tax increase and 1.5 percent for the city building levy.
City staff say Toronto will have to deal with an estimated $1.6 billion dollar hit this year, due to the pandemic.
Part of the city's budget relies on funding from other levels of government that is not yet guaranteed. The city is hoping for $856 million in help this year.
The Canadian Taxpayers Federation is taking issue with the city's spending plan.
Ontario Director Jasmine Moulton believes now is not the time to be asking property tax payers for more.
"City council in Toronto seems to be operating as if it's business as usual, tax and spend," Moulton says. "People are really struggling and city council in Toronto just seem to be completely oblivious to that fact."
She points to several ways she believes the city could save money and make up for the shortfall.
"Simply cancelling Rail Deck Park would more than make up for that shortfall," Moulton says.
The city expects the project to cost about $1.7 billion.
Moulton also points to bike lanes in Scarborough last year as a source of waste.
"The city spent $160,000 installing bike lanes in Scarborough, only to rip them out five months later, spending another $80,000," Moulton says, adding that it amounts to the property tax bill of 80 households in the city.
She also argues that asking for money from the federal and provincial governments, only takes more money out of your pocket.
"(Governments) are all spending a lot of money right now but they all only have one source of revenue," Moulton says. "The three of them all need to get their spending under control."