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Toronto proposes 5.4% residential property tax spike in 2025 budget - Toronto | Globalnews.ca

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Mayor Olivia Chow and budget chief Coun . Shelley Carroll revealed the figure to reporters Monday .

The city is proposing a 5.4 per cent residential property tax increase to help fund a planned $18.8 billion budget for 2025 .

The combined 6.9 per cent tax increase builds on last year’s record 9.5 per cent hike.