Toronto City Council Approves Land Transfer Tax Increase for ‘Luxury’ Homes

Toronto Mayor Olivia Chow speaks to media at Toronto City Hall on July 12, 2023. The Canadian Press/Tijana Martin

Toronto city council has approved Mayor Olivia Chow’s proposal to hike land transfer taxes on the purchase of “luxury” homes worth $3 million or more.

Chow’s motion passed with a vote of 17–7 on Dec. 17.