Mayor and budget chief announce motion to reduce land transfer tax

Budget chief Frank Di Giorgio will move a motion to reduce the tax by 5 per cent

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.

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  1. AC posted on 12/11/2013 01:13 AM
    lol. now it's 5%. it started I'll get rid of all of it, then it shot down to 10 now suddenly it's 5. Folks this is just political optics. 5% less revenue means 5% less in some services to some poor souls. the very people who support him most the lower class.
    Ford knows it's pretty much DOA when it hits council floor. When council shoots it down because they know they would have to make cuts someplace else Ford will just shoot off see folks I tried to get it reduced but the leftys won't let me.
    On the other hand he has zero problem telling you before just $5 a year then it shoots up for a subway.
    optics! but some will drink it. they always do
    1. Frankie posted on 12/11/2013 07:36 AM
      @AC You are correct and we still have poor souls so why don't we tax Toronto citizens 100% of their property values? Never mind the millions that are wasted in the city. That waste is the real culprit that hurts the middle and lower class but the lefties con these people that they represent them while wasting more and more.
    2. Karl Burgin posted on 12/11/2013 10:29 AM
      @AC The facts is AC, he is still trying to keep to his promises- and it is the effort that counts. He already admitted a few months ago, that this would be one of the more challenging promises to fulfill, and it tells a lot that he is still willing to work on it- despite being unjustly stripped.
      And if council shoots it down, the may win the battle today, but loose the war tomorrow- when it comes to being re-elected.

      Kudos on Mr. Ford for still trucking along...
  2. tanjo posted on 12/11/2013 08:11 AM
    Unless you are selling your house in the near future, this will not save you money. It may even cost you. If they cut revenue here, they will have to make it up somewhere.

    Yes, there are saving to be had, but why not find those savings anyway and put them towards lowering property taxes for everyone!
    1. Fernando posted on 12/11/2013 10:24 AM
      @tanjo how do you feel about your property taxes going up for a Scarb subway that will be underused and won't pay for itself?
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