Toronto mayoral contenders square off in a televised debate at CP24 on Tues., July 20.The Canadian Press
Rocco Rossi
No. It is not an appropriate tax, but we cannot begin phasing it out until we fix our finances at city hall. I will get our spending under control with a view to commence phasing out the tax by the end of my first term. To cut the tax right away means slashing some really vital services and that is what Mr. Ford is not telling Torontonians.
Joe Pantalone
No. Cities need a variety of revenues to support their funding base. The land-transfer tax is a common tax in large cities because it is a more fair way to tax than property taxes. It is only paid by those who are buying a home at a time when they are choosing to spend that money.
Property taxes hit everyone, regardless of financial situation, and aren't based on the real value of their property - that often means seniors and other low-income families are pushed out, something I have attempted to stop by promising to freeze property taxes for low-income seniors earning under $50,000 a year.
Toronto's funding problem continues to be the failure of the provincial government to pay its historical share of transit funding, worth nearly $400-million annually - George Smitherman had 10 years to address this issue, and did nothing. Until this funding is restored, Toronto will struggle to provide the services we all count on.
Sarah Thomson
Yes, I will work to abolish the land-transfer tax. With Toronto hovering over a second long-drawn out dip in our economy, we must look for ways to stimulate it and create jobs. The housing market in Toronto can help keep our economy afloat but the land-transfer tax must be taken off as it is a barrier to sales.
As mayor, I will freeze council salaries for four years until a line-by-line review on all government departments is done. This review will work in tandem with my policy of opening the doors of city hall to allow knowledge and innovation in. Through review and innovation, we can find significant savings.
With one-third of our city work force due to retire over the next decade, I will work to open up a bidding system on services like garbage collection.
Our chief planner must have the skill and power to reduce contingency rates on all projects, to demand more comprehensive plans and to manage projects much more effectively. I believe we need to get back to the fixed price model for accepting contracts, and refuse the overruns that are now almost doubling our construction costs. By managing this well we can save millions of dollars in cost overruns.
Through efficient government we can save Toronto millions of dollars - I have no doubt that much more than $178.4-million can be saved. Although I can't give an exact number I will be aiming to reduce the overall spending over the next term by at least $500-million/year.
George Smitherman
It's not fiscally credible to promise to eliminate the tax. I've had to pay the land-transfer tax and I know how much of a burden it is, but no candidate can promise to cut it without also telling you what services they'll cut. My campaign is about stopping the waste at city hall and making it work for you.
While the tax is one of the tools the city has under the City of Toronto Act to raise revenue to pay for services, I think going to taxpayers for more money should only happen as an absolute last resort. Let's root out the waste and get city hall re-focused on giving you better, faster service.
Rob Ford
I believe strongly that we must give taxpayers a break, and I am fully behind eliminating the unfair land-transfer tax.
Toronto has a spending problem, not a revenue problem. I will address the city's spending problem by eliminating waste and lowering staffing levels through attrition. This will easily reduce spending enough to cut both the land-transfer and vehicle-registration taxes.