{"id":2140,"date":"2007-07-28T15:21:56","date_gmt":"2007-07-28T19:21:56","guid":{"rendered":"http:\/\/spacingtoronto.ca\/?p=2140"},"modified":"2007-07-29T20:45:33","modified_gmt":"2007-07-30T00:45:33","slug":"and-then-there-was-24","status":"publish","type":"post","link":"https:\/\/spacing.ca\/toronto\/2007\/07\/28\/and-then-there-was-24\/","title":{"rendered":"And then there were 24?"},"content":{"rendered":"

<\/p>\n

First Brian Ashton and now Gloria Lindsay-Luby?<\/p>\n

Lindsay-Luby, a member of City Council’s executive committee, discussed her angst about the land transfer tax<\/a> in today’s Toronto Star. Unlike Ashton<\/a>, who is also a member of the exec committee, Lindsay-Luby voted with Mayor Miller and 21 other councillors to implement the land transfer tax and an additional $60 vehicle registration. A mix-bag of 23 councillors<\/a> voted to defer the decision to implement the taxes until council meets in October after the provincial election.<\/p>\n

Now Lindsay-Luby is having second thoughts and is trying to find a compromise. Personally, what I find a tad rich is her concern for her ward residents (and potential residents) who may be put off from buying an $800,000 house because it would result in $25,000 in land transfer taxes. I recognize 25Gs is nothing to scoff at — but I suggest the councillor choose her words more carefully when she starts talking to the press and public about how this could be an “additional hardship” for these homeowners.<\/p>\n

Imagine — some of these resident may have to settle for — gasp! — a $700,000 house.<\/p>\n

Here’s the choice passage from the Star article<\/a>:<\/p>\n

Yesterday, Lindsay Luby revealed that though she voted not to defer last week, she had in fact been wavering on both taxes, especially the one involving land transfers.<\/p>\n

The city’s plan calls for a 1.5 per cent tax on homes sold for more than $250,000 and an additional .5 per cent tax for homes more than $400,000. The amount would match the provincial tax already levied on home buyers.<\/p>\n

Lindsay Luby voiced concerns to the mayor during last week’s debate. Her anxiety grew during the meeting, she says, as she had finance staff look into the impact the tax would have on people buying expensive homes like the many $800,000 properties in her ward.<\/p>\n

“I thought, they’ll pay $25,000 in land transfer taxes, on top of all the other closing fees of a lawyer and of course a real estate person collecting 5 per cent of that $800,000. That’s quite big dollars. I could see why it would start to stall the market,” she said, adding the tax will be an additional hardship for people who want to live in Toronto.<\/p><\/blockquote>\n

photo by Anne Adams<\/a> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

First Brian Ashton and now Gloria Lindsay-Luby? Lindsay-Luby, a member of City Council’s executive committee, discussed her angst about the land transfer tax in today’s Toronto Star. Unlike Ashton, who is also a member of the exec committee, Lindsay-Luby voted with Mayor Miller and 21 other councillors to implement the land transfer tax and anContinue reading “And then there were 24?”<\/span><\/a><\/p>\n","protected":false},"author":1022,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ngg_post_thumbnail":0,"_ef_editorial_meta_paragraph_assignment":"","_ef_editorial_meta_date_first-draft-date":"","_ef_editorial_meta_checkbox_needs-photo":"","_ef_editorial_meta_number_word-count":"","footnotes":""},"categories":[2,20],"tags":[6337,407,408,6339,722,1463,5257,426,657,6338,405,19,341,391],"class_list":["post-2140","post","type-post","status-publish","format-standard","hentry","category-politics","category-urban-design","tag-anne-adams","tag-brian-ashton","tag-councillor","tag-finance-staff-look","tag-gloria-lindsay-luby","tag-lawyer","tag-lindsay-luby","tag-mayor","tag-miller","tag-real-estate-person","tag-the-star","tag-toronto","tag-toronto-star","tag-usd"],"acf":[],"yoast_head":"\nAnd then there were 24? - Spacing Toronto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spacing.ca\/toronto\/2007\/07\/28\/and-then-there-was-24\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"And then there were 24? - Spacing Toronto\" \/>\n<meta property=\"og:description\" content=\"First Brian Ashton and now Gloria Lindsay-Luby? 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