As protesters raised angry voices outside of Toronto's City Hall tonight the city council passed the 2012 budget. The budget passed has provisions to protect the city's libraries and to give funding to three housing shelters that were due to be axed.
“The 2012 Budget is a reasonable and responsible budget,” said Mayor Rob Ford in a press release. “Council’s approval of the budget reflects what we were elected to do: fix the state of City finances and hold the line on property taxes, hold the line on the debt and ensure that we make every tax dollar count by providing the best services we can.”
Toronto property owners will see a 2.5% residential tax rate increase this year along with a 0.83 per cent tax increase for businesses and a 10-cent fare increase for TTC customers.