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Toronto's operating municipal budget for 2010 was approved by the Toronto City Council on April 15, 2010. [ 2 ] [ 3 ] The budget maintained city services, and increased the property tax by "1.8% on total tax base".
The Toronto government debt is the amount of money the City of Toronto government has borrowed to finance capital expenditures. Under the City of Toronto Act, the Toronto government cannot run a deficit for its annual operating budget. [1] In addition, City Council has set the limit of debt charges not to exceed 15% of the property tax revenues ...
Under the City of Toronto Act, the Toronto government cannot run a deficit for its annual operating budget. [10] The city's revenues include 33% from property tax, 6% from the land transfer tax, subsidies from the Canadian federal government and the Ontario provincial government , and the rest from other revenues and user fees.
Public services in Toronto are funded by municipal property taxes, ... ($3.221 B), which is referred to as the Net Operating Budget. [1]
Rank Name Level of government Total expenditure Per-capita expenditure Fiscal year Source 1 Canada: Federal 338,500,000,000 2018-19 [1]2 Ontario: Provincial
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