TORONTO - Mayor Chow launched her 2026 budget focused on affordability. READ IT HERE!
“Families are feeling the squeeze from the high cost of living. My budget is about making life more affordable for Toronto families.
My 2026 budget delivers real savings: free healthy meals for every child in our public schools, TTC fares frozen for the third straight year - resulting in saving a working couple with two kids $1,200 on groceries and transportation costs.
My budget delivers seven-day-a-week library access for more free spaces for families. We’re expanding support for renters and offering grants to help homeowners protect against flooding and upgrade their homes. For seniors, we’re increasing programs that help them stay in their homes and age in dignity.
We’re making Toronto safer. Shootings dropped 43% last year. Youth violence is down 40%. When you call 911, your call is answered 75% faster than it was two years ago. Crime continues to come down across the City as we hire more police, firefighters, paramedics and mental health workers.
We’re making Toronto more fair by asking empty home speculators and luxury property buyers - the top 2% of all buyers - to chip in more to make life more affordable.
A city is a promise we make to each other: if you work here, you should be able to afford to live here. If you need help, we’ll be there. If you’re raising kids, they’ll have what they need to thrive. This budget keeps that promise. Together, we’re delivering a more affordable, caring, and safe Toronto.”
AFFORDABILITY
- Saving families $900 on groceries by providing free healthy meals to kids in every school in Toronto. The 2026 budget adds 62,000 more kids in 155 more schools - for a total of 330,000 kids. Even further, we’re providing meals to 115,000 kids in the 185 City-run camps when school’s out.
- Not raising TTC fares while increasing service for the third year in a row saving a working couple $300 annually. Plus fare capping at 47 rides to start this year, down to 40 rides then it’s free next year. Ride more, pay less.
- Every library open 7 days per week: More free spaces and programs for families.
- Savings for homeowners: Doubling subsidies for preventing basement flooding, free plumbing assessments and rain barrels. Low cost loans and grants to help replace furnaces with heat pumps as well as free in-home energy consultations.
- More support for renters: More RentSafeTO inspectors to keep apartments safe and more enforcement for the renovictions bylaw, increased funding to the Rent Bank to help working people pay rent if they’re short and prevent evictions, doubling the free air conditioner program to help vulnerable seniors during heat waves, and more.
- Helping seniors age at home: Eliminating the 3-year waitlist for Homemakers and Nurses Services, which help people with day-to-day tasks at home. Boosting funding to the Voluntary Trusteeship Program which helps seniors manage their finances, and the Extreme Cleaning Program.
- Cutting taxes for small businesses: Supporting local jobs by increasing the tax discount through the Small Business Property Tax Subclass to 20%. An additional 5% tax cut this year.
- Building affordable homes: Continuing our progress by breaking ground on thousands of new rental homes in 2026 and continuing to bring the cost of rent down.
- Expanding property tax relief: Helping more people access the City’s Property Tax Deferral and Cancellation Program by again raising the income threshold. A senior with a home at average value will save $818 this year on combined property taxes, garbage and water bills.
- Low property tax increase. Below inflation at 2.2%. After inheriting a $1.8 billion budget hole and spending two years repairing it, Mayor Chow has improved the City’s financial outlook and for the first time in 23 years, Toronto government’s credit rating went up to AA+, saving millions of dollars that can be reinvested to make life affordable for Toronto’s residents.
- Making Toronto’s tax system more fair: Empty home speculators and luxury property buyers - the top 2% of all buyers - will contribute $250 million through the Vacant Homes Tax and Luxury Homes Tax. That’s a quarter billion dollars coming from those who can afford it most, instead of families.
SAFETY
- Funding for the Police multi-year hiring plan, which includes 720 officers and new Neighbourhood Community Officers in communities.
- Paramedic multi-year hiring plan, which includes over 360 more paramedics and staff.
- 156 new firefighters hired as the City completes implementation of the latest multi-year hiring plan.
- Mental health crisis workers city-wide to respond to mental health emergencies, and embedded on the “U” portion of the Line 1 subway as part of a broader, multi-agency approach to enhancing TTC safety.
- More TTC safety workers through police and mental health crisis workers, special constables, homelessness outreach workers and more TTC staff on platforms.
- Supporting youth through more employment, training, mentorship and recreation programs to give young people a better path.
Budget savings and efficiencies
In addition to improving the City’s financial footing over two years, Mayor Chow has found new savings and efficiencies in preparation for the 2026 budget. The budget includes a total of $788 million in reductions and offsets to both maintain City services and deliver a budget that’s affordable for people.
These actions include $135 million saved through line-by-line reviews and finding efficiencies in how divisions operate, a non-essential hiring freeze and bringing the Toronto Parking Authority in-house, saving $30 million on operating costs.