Toronto’s mayor, Olivia Chow, has committed to keeping property taxes in line with the rate of inflation as she seeks re-election. This pledge marks the first property tax promise in the ongoing municipal campaign and has drawn criticism from Beaches-East York Coun. Brad Bradford’s team, cautioning voters against trusting the commitment.
Chow’s campaign spokesperson, Shirven Rezvany, highlighted the mayor’s efforts in stabilizing the city’s budget and finances since assuming office in June 2023. Rezvany emphasized that while Chow inherited Toronto’s financial challenges, she took responsibility to address and rectify them. The plan moving forward is to maintain property taxes at or near the inflation rate, which stood at three percent in Canada in July, according to Statistics Canada.
With 53 candidates vying for the position of Toronto’s next mayor, Chow faces competition from Bradford, her primary rival based on early polling data. When Chow first took office in 2023, the city was grappling with a post-pandemic budget deficit of $1.8 billion. However, under her leadership, Toronto’s credit rating has improved to AA+, a level not seen in 25 years.
Chow proposed a modest 2.2 percent property tax increase for 2026, the smallest since she assumed office. In contrast, her 2024 budget saw a significant 9.5 percent increase, the highest in a quarter-century, and a 6.9 percent increase in 2025. Rezvany also highlighted Chow’s long-term financial strategy and secured funding for projects such as the Don Valley Parkway and Gardiner Expressway from the provincial government. Additionally, Chow has secured $15 billion from various government levels for initiatives like refugee emergency shelters, housing, subway cars, and a new waterfront park.
In response to Chow’s pledge, Bradford’s campaign spokesperson, Joseph Colella, criticized her previous commitments on tax increases and promised a detailed affordability plan for the city in the future. The race for Toronto’s mayor remains competitive, with candidates positioning themselves on various issues, including financial stability and service enhancements.
For more information on the mayoral candidates and the upcoming election, the full list of contenders can be found on the official city website.