Tuesday, October 23, 2007

Thanks, Mayor ... I Guess

Last night was the big vote for Toronto City Council.

I suppose - as a potential future first-time buyer who doesn't drive - I should be somewhat grateful, as the land transfer tax was actually modified (thanks, Coun. Grimes).

But truthfully, this still sucks for those who are affected (translation: millions of homeowning drivers ... or driving homeowners, take your pick).

On top of which, the land transfer and vehicle registry tax will only generate $175 million in revenue for next year, instead of the $356 million that was forecast. It's gonna be really interesting to see how this all works, considering there were a few other corners that could've been cut to help this cash-strapped city.

For a couple of city columnists' views, check out Sue-Ann Levy's slightly snarky debrief and Royson James's take.

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