Item - 2020.MM14.6
Tracking Status
- City Council adopted this item on January 29, 2020 without amendments.
MM14.6 - Review of Municipal Land Transfer Tax Rebate for First-Time Home Buyers - by Councillor Mark Grimes, seconded by Councillor Brad Bradford
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
City Council Decision
City Council on January 29, 2020, adopted the following:
1. City Council direct the City Manager to report to the April 1, 2020 City Council meeting on opportunities to provide first-time home buyers with greater relief from the Municipal Land Transfer Tax, including increasing the maximum eligibility threshold of $400,000 to reflect increased home prices in Toronto.
Background Information (City Council)
Motions (City Council)
Motion
to Waive Referral
(Carried)
Speaker Nunziata advised Council that the provisions of Chapter 27, Council Procedures, require that Motion MM14.6 be referred to the Executive Committee. A two-thirds vote of the Council Members present is required to waive referral.
Motion
to Adopt Item
(Carried)