Toronto city council has adopted the mayor’s 2026 budget, which includes a modest property tax increase, caps on public transit fares and more money for the police.

The budget includes a 2.2 per cent property tax hike, compared to a 6.9 increase last year and a 9.5 increase in 2024. 

The city has said that increase comes out to about $91.53 more a year for an average Toronto home with an assessed value of $692,140.

The budget includes a freeze on Toronto Transit Commission fares, including a fare cap at 47 rides in a calendar month that will kick in later this year.

The budget also has measures to mitigate homelessness, open libraries seven days a week and add more funding to hire hundreds of new police officers and paramedics in a multi-year plan.

Mayor Olivia Chow has defended the funding hike of more than $93 million for the Toronto Police Service amid a recently revealed corruption probe that led to charges against seven current officers.

Chow has said the city has to honour the police force’s collective agreement and hiring plan.