Toronto Could Face Higher Property Taxes As Feds Cut Refugee Support
AI Article Summary
Toronto is facing a reduction in funding from the Canada-Ontario Housing Benefit, which has significantly impacted the city's ability to provide housing to its unhoused population. The city will only receive $7.95 million from April 2026 to March 2027, a 60% decrease from previous years, impacting its shelter programs. Mayor Olivia Chow is advocating for the federal government to increase funding for housing asylum seekers, which could otherwise result in increased property taxes to cover the costs. The discussion on additional support will take place at the upcoming Toronto City Council session.
What This Means for Canadian Contractors
This scenario highlights how critical government funding is in managing urban housing challenges, especially for vulnerable populations. For Canadian builders, this means potential shifts in urban planning and housing construction demand as cities may delay or adjust projects based on funding availability. Additionally, as municipalities face budget constraints, this could impact approvals for new residential projects, affecting timelines and potential costs.
