London’s property-tax-supported budget increased 8.7% in 2024, 7.4% in 2025 and 3.6% in 2026. Those are annual increases. The separate 7.5% four-year average refers to the originally adopted 2024–2027 Multi-Year Budget and should not be confused with the 2025 annual increase. The public-accountability question is how each budget change connects to service levels, finished projects and results residents can actually follow.
Sources. 2024 — City of London, 2024–2027 Multi-Year Budget adopted. 2025 — City of London, approved 2025 Annual Budget Update. 2026 — City of London, 2026 Annual Budget Update reporting. Verified September 19, 2026.