Sunday, December 15, 2013
Toronto Deputy Mayor Norm Kelly against Mayor Rob Ford land-transfer tax cut
Ford announced earlier this week that he'll be pushing for a 5% cut to the tax as part of the city's 2014 budget process.
Budget Chief Frank Di Giorgio was at Ford's side for the announcement and committed to trying to make the cut, although he describes a more elaborate plan of tinkering with the tax that he argues would translate to a 5% cut.
Kelly -- who now holds most of the mayor's powers -- confirmed Thursday that he's opposed to Ford's bid to cut the tax.
"I support the land transfer tax," Kelly said. "What are you going to have to cut in order to facilitate those lost revenues?"
Councillor Doug Ford said the land transfer tax cut was possible.
"I totally disagree (with Kelly)," Councillor Ford said, arguing the land transfer tax will bring in $350 million this year when only $335 was budgeted.
The extra $15 million should be returned to taxpayers in the form of a cut in the tax rate, he said.
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