Toronto City Council Meeting: Approval of proposed 2024 Budget by Mayor Olivia Chow
The approval of the 2024 Budget by Toronto's City Council holds particular importance for communities like Regent Park. The additional funding allocated for community safety, violence prevention, wellbeing programs, and essential housing support initiatives underscores the council's commitment to addressing the diverse needs and challenges faced by residents in Regent Park and ensuring their overall welfare and security. Toronto's City Council has approved the largest property tax increase in over 25 years, including a substantial $20 million surge in the police budget. At a special session convened on Wednesday February 14th, 2024 council members endorsed a 9.5% residential property tax hike, a measure championed by Mayor Olivia Chow. Defending the increase, Chow emphasized its affordability, assuring citizens that programs for tax deferral and cancellation would be available to assist those facing financial hardship. The tax hike itself is composed of an 8% increase in pr...