City Budget

City services impact your life every day. Each time you visit a recreation centre, borrow a book from the library, have your garbage or recycling picked up, drink clean water from the tap, ride the TTC or have emergency services rush to your aid – you are using a City of Toronto service.

That’s why the city’s budget is so important – it’s about setting our collective goals and building a great city. It determines the level of service provided to Toronto residents and guides decisions on what city infrastructure will be purchased, built and repaired.

Learn more about the city's budget and finances.

2026 Budget: Delivering an Affordable, Caring & Safe City

The 2026 City Budget was approved at a special meeting of City Council on February 10th 2026.

The budget, Mayor Chow's third since her election in 2023, prioritizes investments to make Toronto more affordable, caring and safe.

It includes investments in public transit improvements and no fare increases, extended open hours for libraries, feeding school kids which saves families money on groceries, affordable homes, services for seniors and public safety through the hiring of more emergency responders.

This year's budget includes an $18.9 billion operating budget and a historic $63.1 billion 10-year capital budget and plan (2026–2035), the largest 10-year capital plan in the city’s history.

Together, these two components deliver critical investments in the services Toronto-Danforth residents have told me they rely on.

The Mayor's budget also prioritizes affordability by keeping the property tax increase to 2.2 percent, below the rate of inflation.

It also brings forward a fairer plan to fund our city by asking empty home speculators and luxury property buyers - the top 2 percent of all buyers - to chip in more to make life more affordable.

In addition to improving the city’s financial footing over two years under Mayor Chow's leadership, her budget includes $788 million in new savings and efficiencies.

Over 25,000 residents participated in the October 2025 consultations, telephone town halls and other events, including my Budget Town Hall, ensuring the budget reflected their needs and priorities.

Read Mayor Chow's 2026 budget here. See her February 2026 news release for budget highlights.

I was proud to stand at Council in support of the budget and Mayor Chow's work of building a more affordable, caring and safe Toronto.

Read my 2026 Budget update to learn more.

2025 Budget: Investing in the Services & Infrastructure We Rely On

The 2025 City Budget was approved at a special meeting of City Council on February 11th, 2025.

I was proud to support Mayor Chow's budget to improve affordability and safety, keep Toronto moving and enhance community services.

Read my update on the 2025 City Budget to learn more.

2024 Budget: Getting Toronto Back on Track

City Council adopted the 2024 City Budget at a special budget meeting on February 14th, 2024.

This was Mayor Chow's first budget. It made historic investments in housing, support for tenants, transit and puts us on a path toward a more affordable, caring and safe Toronto.

The budget also contains significant measures to address the $1.8 billion budget deficit Mayor Chow inherited from her predecessor and get the city back on track after years of decline, underinvestment and pandemic-induced pressures on city services.

I'm proud to have supported the game-changing investments in Mayor Chow's budget to protect and improve the services we rely on.

Read my update on the 2024 City Budget to learn more.

City Council approves 2021 rate-supported budgets with the largest annual capital investment in Toronto Water’s history

Toronto City Council has approved the 2021 rate-supported operating and capital budgets for Toronto Water, Toronto Parking Authority and Solid Waste Management Services. The approved budgets maintain current service levels and make critical investments in infrastructure while reducing planned rate increases to just 1.5 per cent.

The 2021 operating and capital budgets have been developed with the guiding principles of addressing financial challenges that have been created by COVID-19, prioritizing initiatives that will support economic restart and recovery efforts, and embedding equity by finding opportunities to make the city more fair and livable for those who live and work here.

City of Toronto launches 2021 rate-supported budgets

The 2021 staff-recommended rate-supported operating and capital budgets were launched at Budget Committee today. The City of Toronto has three rate-supported programs funded through user fees: Toronto Water, Solid Waste Management Services and the Toronto Parking Authority.

The City of Toronto, consistent with other large Canadian municipalities, has experienced significant financial impacts in the form of both added costs and revenue losses as a direct result of the COVID-19 pandemic. These unprecedented impacts are expected to continue into 2021, with anticipated financial pressures of approximately $1.8 billion.

Budget 2018

The 2018 Budget website includes the budget presentations, budget schedule, media releases, fact sheets and Budget Notes for each City Program and Agency as well as infographics and animation educational videos. Visit www.toronto.ca/budget2018.

You can find various materials and publications to learn more about the City budget and the budget process. They include the Preliminary Budget Overview and three Budget Basics publications which can be found here: https://www.toronto.ca/city-government/budget-finances/city-budget/basic-basics/.

Toronto Island flood repairs to cost $7.4M

BY NEWS STAFF

POSTED JAN 10, 2018 6:44 PM EST

Repairing the damage from the flooding in Toronto last year will cost $7.4 million — most of which the city will defer until at least 2019. That means when you set foot back on the Toronto Islands in a few months, it won’t be fully back to normal. Melting snow and intense rain last spring caused the worst flooding

Toronto's budget $5M short on repair money for spring flood damage

""That's not good enough," said Coun. Paula Fletcher...She'll be asking questions about why the full $7 million isn't in this year's budget...[and] push for the entire amount — money documents say would be spent on everything from repairing paths to adding permanent water pumps on Toronto's islands — to be included in this year's financial plans."

Budget Subcommittees - Public Presentations on the 2018 Capital and Operating Budgets

The Budget Subcommittees will hear Public Presentations on the 2018 Capital and Operating Budgets at the locations and times listed below.

Members of the public may register to speak at one of these meetings by emailing [email protected] or by calling 416-392-4666, indicating the specific location and time.

Visit toronto.ca/budget2018 for further information on the Budget.

Residents invited to join discussion about Toronto’s 2017 budget

Residents invited to join discussion about Toronto’s 2017 budget. The City of Toronto's Budget Committee will hear public presentations on the preliminary 2017 tax supported budgets next week. Members of the public can make a presentation at sub-committee meetings on January 5, 9 or 10 at locations across the city. Two sessions will be held at each of the six locations listed below.Torontonians who want to share their views on the budget are asked to register by emailing [email protected] or by calling 416-392-4666