With the budget chief at his side, mayor Rob Ford stood at a podium today to announce that a motion will be introduced to reduce the land transfer tax by 5 per cent next year.
Ford has previously pushed to have the tax reduced by 10 per cent.
"This is a small step in the right direction, but we have to start somewhere," the mayor says.
Budget chief Frank Di Giorgio will move the motion. He admits getting it passed will not be easy.
"I'm not sure how it'll flow, but it'll be an interesting ride," Di Giorgio says.
The budget committee is currently debating how taxpayer dollars will be spent next year.
A final decision on the 2014 budget will be made by full council at the end of January.