City of Markham Earns “A-” Rating from C.D. Howe 2025 Report Card

MARKHAM, ON – June 12, 2026 - The City of Markham has once again earned an A- rating in the C.D. Howe’s Institute’s annual 2025 report, “Making Sense of City Budgets: Grading the Fiscal Accountability of Canada’s Municipalities, 2025.” This achievement places the City in the top six and 85th percentile of 39 major Canadian municipalities that were included in the report.

The C.D. Howe Institute is an independent not-for-profit research institute, whose work focuses on economic policy intelligence and research. C.D. Howe’s evaluation focuses on transparency, accountability and municipal budgeting as it relates to how well it helps Mayor and Council make decisions, as well as overall public understanding. There are 13 criteria in total, with seven related to the 2025 Budget and six related to the 2024 Annual Report.

“The City of Markham is proud to have once again achieved the highest ranking amongst Ontario municipalities from the C.D. Howe Institute,” said the Mayor of Markham. “This achievement strongly reflects our commitment to a transparent, clear budget process. We continue to focus on delivering exceptional services to our residents, while maintaining the lowest average property increase in the Greater Toronto Area for more than two decades. This ranking highlights the dedication of City Council and our staff, ensuring we deliver budgets that are communicated effectively and on time.”

With the introduction of Strong Mayor Powers in July 2023, many Ontario municipalities were unable to present their annual budgets before the start of the 2024 fiscal year. This timing challenge contributed to Markham receiving a B+ rating in 2024. In 2025, the City was once again able to earn an A- rating, following a four-year streak of previously achieving this distinction.

The City is committed to prudent financial management and responsible stewardship of resources, which is one of the four key goals outlined in its strategic plan, Building Markham’s Future Together.

“Fiscal responsibility is a core priority for Markham,” said Andy Taylor, CAO at the City of Markham. “Our organization is driven by a commitment to delivering exceptional service to our residents while maintaining strong financial stewardship. This approach ensures we deliver lasting value for our community and positions us well so we can continue to invest in our community’s future.”

In addition to evaluation from C.D. Howe, the Government Finance Officers Association (GFOA) also assesses municipal budget documents and annual reports for clarity, transparency and completeness. Markham has consistently demonstrated excellence in these areas, earning both the GFOA Distinguished Budget Presentation Award and the Canadian Award for Financial Reporting every year since 2001.

Read the C.D. Howe Institute’s “Making Sense of City Budgets: Grading the Fiscal Accountability of Canada’s Municipalities, 2025.”

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Markham Mayor Frank Scarpitti's Office:
mayorscarpitti@markham.ca.

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About Markham: Markham, an award-winning municipality with over 370,000 residents and the largest of nine communities in York Region, is home to over 650 corporate head offices and more than 1,500 high tech and life science companies. Markham is a leader in attracting foreign direct investment with more than 234 foreign companies located in the City. Founded in the 1790s, today Markham is Canada’s most diverse community and enjoys a rich heritage, outstanding community planning and services, and a vibrant local economy.

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