The mayoral candidate calls for "more progressive city taxes" to support children's health and transit.
Mayoral candidate Olivia Chow released more details of her platform today, calling for changes to the Land Transfer Tax and stating in a press release that “more progressive city taxes [would] let us care for more children, and invest in immediate transit priorities.”
She’s proposing changes to the City’s Land Transfer Tax—as it stands, the LTT’s top tax bracket is $400,000 and up. But with the average price of a home now at $585,000 and climbing, she believes an additional bracket—$2 million and up—should be added. If the LTT were to be raised 1 per cent on homes that sell for upwards of $2 million, the tax would produce about $20 million a year.
Additional tax revenue could then, Chow suggests, be directed to some of Toronto’s more immediate needs, such as child nutrition programs and transit.
Chow helped launch school nutrition programs while serving on the school board—and when she was the child advocate on city council, the initiative was expanded to accommodate 120,000 children. She aims to enlarge the program once again so that it would provide an additional 36,000 kids with a minimum of one healthy meal each day—at a cost of roughly $2 million.
She’s also looking for progress on engineering studies related to the subway relief line, and for increased investment in buses and bus service so that that the transit experience can be improved for riders while larger projects are planned and completed.