TORONTO - Mayor Chow’s 2026 budget delivers direct support to help homeowners protect their homes and lower costs:
“People are feeling squeezed by the cost of living. This budget offers real help—homeowners can access up to $9,000 or more in savings through the City’s home upgrade programs,” said Mayor Chow. “We’ve added funding to protect against basement flooding, replace old furnaces, and provide expert guidance. Low-cost loans help you upgrade your home, cut utility bills, and increase your property value.”
“From school food programs and frozen TTC fares to help upgrading and protecting your home—we’re making Toronto more affordable. The 2026 budget continues delivering a more affordable, safe and caring city.”
Mayor Chow’s 2026 budget includes a range of initiatives to support homeowners:
- Basement flooding protection grants. Get up to $6,650 to protect your home from water damage. The Basement Flooding Protection Subsidy Program covers backwater valves, sump pumps, and backup batteries. Mayor Chow has doubled funding for this program. The City will also subsidize approximately 3,000 rain barrels and 1,000 downspout diverters, saving homeowners an additional $100-$200.
- Help replacing furnaces with a heat pump. The new Furnace Upgrade Program offers low-cost financing to switch to energy-efficient heat pumps that heat in winter and cool in summer. The program connects you with qualified contractors and includes a $2,000 rebate secured through provincial partnership.
- Access expert advice. Access subsidized or free home plumbing assessments, energy coaching through Toronto Hydro, and other programs to help lower your utility bills.
- Low-cost loans for home upgrades. Through the City’s Home Energy Loan Program (HELP), homeowners can access low-cost financing to improve their homes. Like replacing windows, doors or water heaters for better energy efficiency, or adding new green infrastructure like electric vehicle chargers or rooftop solar panels. These upgrades can help homeowners save money on utilities and raise the value of their home.
Mayor Chow’s 2026 budget focuses on affordability and continuing progress on making Toronto safer. It includes free healthy meals in schools, TTC fares frozen for the third straight year - as well as investment to continue reducing 911 wait times and lowering crime by hiring police, paramedics, firefighters and mental health workers. See more here.