CHOW VOWS TO RAISE LAND TRANSFER TAX ON MANSIONS

Sep 02, 2014

By Bob Komsic

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Toronto mayoral hopeful Olivia Chow pledges to make the city’s land transfer tax ”more progressive.”

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If elected in the October municipal election, she vows to add one percent to the tax on homes and condos that sell for over $2-million.

Yorkville CondoRosedale

Pointing out there are about 500 such transactions every year in the city, Chow says that would mean an extra $20-million for the city which she’d put toward transit improvements.

She says she’s committed to a downtown subway relief line, increasing bus capacity by 10 percent and spending $2-million more a year on student nutrition programs.

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