"The news of today’s 5.5% property tax hike in Toronto’s budget likely came as a surprise to the city’s homeowners. It caught my attention because it marks a dramatic departure from a 2.9% hike in 2022 and just a 0.7% increase in 2021. This, and the recently-announced TTC fare hike, are clear indications that the city is in need of cash as we try to claw ourselves out of a pandemic – or, more specifically, relentless lockdown measures – that cost the city billions of dollars."