Toronto’s operating budget includes four per cent property tax hike

The City of Toronto has unveiled its blueprint for the 2010 operating budget, Tuesday, and it recommended a four per cent residential property tax increase and a 1.3 per cent tax hike for businesses.

The operating budget is balanced, and Mayor David Miller said the city didn’t have to sell off any of its assets to do it.

“Through careful management, wage restraints and through a modest property tax hike, the city budget is balanced predominately from using a $250-million surplus generated from 2009,” Miller said.

However, the proposed budget does include $13-million in user fee increases and new fees.

But according to Miller, residents are still getting a better deal in Toronto than anywhere else in the GTA.

“If you live in a condominium or a house in this city, you pay less [in] residential property taxes than anyone in the 905,” Miller said.

Budget chief Shelley Carroll admitted there will be some job losses through attrition and some permanent positions will become seasonal; however, she did not provide any specific numbers.