This article was last updated on April 16, 2022
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Toronto mayoral candidate, Olivia Chow, has talked about tax hikes for the first time as she announced her plan to raise land-transfer tax on high-end homes as a way to pay for transit and school nutrition programs.
According to the announcement made by Ms. Chow on Tuesday morning, she declared her plan to increase the land-transfer tax on homes over $2-million by one percentage point, i.e. from 2 per cent to 3. This is the first time that Chow has even mention of raising taxes since launching her election campaign in March and the announcement has come a short time after recent polls showed that she has less support than John Tory and Mayor Rob Ford. Ms. Chow stated that “surely those people that can afford $2-million or $10-million homes, adding 1 per cent to the land-transfer fees I don’t think is too much.” It was added that “I think it’s fair. It’s progressive.”
Ms. Chow has vowed to use the $20-million anticipated to be collected from the tax hike to invest in child nutrition programs in schools, as well as the Toronto Transit Commission. She alleged that “I think people that are progressive will agree with me – that if it means 36,000 kids can have good food in the morning … I think the majority of people in the city will say, ‘Yes, this is the way to go.’” Former NDP MP has so far completely avoided mentioning any taxe raises and has promised to keep property taxes at the rate of inflation.
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