Proposed 2013 city budget to raise property taxes by 1.95 per cent
Published Thursday, November 29, 2012 4:19PM EST
City of Toronto’s proposed 2013 budget is calling for a 1.95 per cent property tax increase in an effort to generate more revenue and balance the books.
The tax increase was one of several proposals outlined by city staff Thursday. The proposed $9.4-billion budget also includes a five-cent TTC fare increase, $60 million of savings in employee salaries and benefits and $109 million in “efficiency and other cost savings,” according to a city news release.
However, the release said balancing the 2013 budget will depend on the police department’s willingness to freeze its spending. Police Chief Bill Blair has warned that a budget freeze will force him to cut more than 130 officers and some civilian staff from the department.
A $47-million, one-time draw from the city’s reserved funds is also recommended to balance the books.
A $15.3 billion capital budget plan for 2013-2022 is mostly focused on maintaining existing infrastructure and calls for multi-million dollar repairs to the Gardiner Expressway and other major roads. New subway cars and buses, as well as a second platform at Union Station, are also on the project list.
Toronto residents can offer their input on the budget at a Dec. 10 budget committee meeting. To sign up, residents can call 416-338-5851 or 416-392-7445, or e-mail firstname.lastname@example.org by Dec. 7.
Council will review the final operating 2013 budget over three days in January.