Ford’s Land Transfer Tax “guarantees”
Posted on June 2nd, 2012 –
The elimination of the Land Transfer Tax is actually a Ford election promise, unlike his push for subways, so that part of his ongoing bluster on the subject is true. The rest, however, including his recent assurance to have it eliminated by the end of his term, has been just one long pile of growing bullkaka.
For starters, shortly before he was elected he made a speech to the Toronto Real Estate Board promising that the LTT would be completely gone by the end of 2012 … “guaranteed!”
Ford blamed the Ontario government’s impending election for delaying the changes beyond his first year.
A little over that first year later, speaking in front of the same group, he vowed to have the LTT reduced by up to 25% by the end of 2012.
“I can’t say we’re gonna wipe it out this year, but it might be a quarter this year, a half next year, or — you know, but we’re gonna do it piece by piece. You’re gonna see a portion of the land transfer tax, I don’t know how much right now, be gone by the end of next year,” Ford said.
Granted we’re not exactly at the end of 2012 yet but Ford is already backing down on even this revised plan (once again revealed in front of the same Toronto Real Estate Board meeting), saying that he’d like to have the process of repealing the tax started by the end of his term in 2014. And in typical Ford fashion, he wants people to “get in councillor’s faces” in order to get his way.
“Folks, you must get in the councillors’ faces,” Mr. Ford said. “As we succeed in reducing costs, we can begin to phase out that terrible land transfer tax, which I never supported and I am adamant to get rid of. I’d like to start doing that before this council term is up.”
To reiterate:
2010 – Rob Ford “guarantees” to have the LTT eliminated by 2012, maybe 2011. Blames MPs, elections for possible delays.
2011 – Rob Ford cuts back on his “guarantee”, now claiming to have the LTT reduced by about 25% in 2012.
2012 – Rob Ford completely reneges on his “guarantee”, vowing to hopefully set something in motion on the LTT by the end of 2014 (much like many of his other plans). He invites constituents to get in councillors’ faces, presumably because he blames them for his inability to gain traction on the issue.
This, according to Ford-backing tabloid Toronto Sun, is considered “tackling” the LTT. Hmm…why is it still walking then?
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June 3rd, 2012 7:39 am
With the news last week that Ford isn’t going to be transferring any land anytime soon, I imagine the idea of cancelling the Land Transfer Tax is just more “water under the bridge” as Hizzoner is wont to say.