Considering that Taranto is a city in the Apulia region of Italy, and is part of Magna Graecia, which is a region of Southern Italy that used to (and still does today) have a big cultural impact by Ancient Greece, I'm going to go out on a limb and say that no, it's not spelt Toronto.

You're probably just joking, but I felt I had to say something, being that I'm from around there.