in Toronto’s budget and the Ford government isn’t about to help her with that any time soon. Despite promising not to get involved in the mayoral election, Premier Doug Ford ended the campaign by endorsing former police chief Mark Saunders and lashing out against Chow.
Like almost every elected official in Canada’s cities right now, Chow’s biggest challenge will be getting a handle on the housing market. Her plans include the creation of 25,000 new rental homes on city-owned land, raising the city’s Vacant Homes Tax from one per cent to three per cent, and increasing the Municipal Land Transfer Tax on luxury homes worth more than $3 million. All the funding generated by these tax increases will go towards affordable housing measures.
Chow has also said she’ll raise property taxes, although she’s yet to indicate exactly how much that will be. This is an unpopular but entirely necessary measure, one that even finds backing in the pages of the, “Since amalgamation created today’s Toronto 25 years ago, a series of mayors has refused to ask homeowners to pay the full cost of the services they demand. Ontario’s biggest and priciest city also has its lowest property taxes.
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