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Cities Tackle Housing Crisis with New Tax Proposals

12/11/2025

31 4 Full Breakdown

Summary

Story summary

Toronto's city council committee endorses Mayor Olivia Chow's plan to raise the land transfer tax on luxury homes valued over $3 million, starting April 2026, to ease middle-class burdens.
Wiltshire Council proposes a 100% council tax premium on second homes and higher charges on long-term empty properties.
In Pittsburgh, a proposed 30% property tax increase would fill a $30 million gap, though some council members worry about timing and impact.

History

Historical Context

In 2016, Ontario's government introduced the Fair Housing Plan, including a 15% foreign buyer tax, to combat soaring housing prices, particularly in Toronto. This followed similar measures in British Columbia, where foreign buyers were linked to rising real estate costs. Mayor Olivia Chow's recent proposal to increase the land transfer tax on homes over $3 million reflects ongoing efforts to address housing affordability challenges.

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Story summary

Toronto's city council committee endorses Mayor Olivia Chow's plan to raise the land transfer tax on luxury homes valued over $3 million, starting April 2026, to ease middle-class burdens.
Wiltshire Council proposes a 100% council tax premium on second homes and higher charges on long-term empty properties.
In Pittsburgh, a proposed 30% property tax increase would fill a $30 million gap, though some council members worry about timing and impact.

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