TTC fares could soon go up by 10 cents

For the eighth time in just 10 years, TTC fares are about to go up—but only because the transit agency really needs the money.

The Toronto Transit Commission is expected to recommend a 10-cent fare hike today when unveiling its 2019 budget, according to "a source with knowledge of the documents" who spoke to The Toronto Star. 

Presto fare card taps and tokens will rise from $3.00 to $3.10 in April, if the source is correct. The cost of a monthly pass will also go up under the new structure, though cash fares will remain the same at $3.25. Not that it matters much when the agency plans to stop taking cash at all.

The fare increase should add an extra $25 million to $27 million per year for the TTC, according to the Star's source, which should help the transit agency raise at least some of the $33 billion it reportedly needs over the next 15 years.  

First, however, the TTC board will have to approve the budget at a meeting next Thursday. If that goes well, it'll be sent along to City Council in March for final approval.