Brad Bradford's tax cut pledge raises questions about Toronto's finances

Mayoral candidate Brad Bradford is proposing to reduce Toronto's municipal land transfer tax on homes valued up to $1.1 million, a move his team says would help the housing market but would also reduce city revenue by an estimated $300 million. The proposal comes as Toronto faces major budget pressures and ongoing funding gaps for core services. Experts say the debate is less about one tax change than about whether the city has enough ways to raise money for housing, infrastructure, and daytoday operations. Supporters of the tax cut argue the land transfer tax adds a large upfront cost for homebuyers and may discourage people from entering the market. Critics say Toronto already relies heavily on a revenue source that has been important for balancing budgets, and that cutting it would force the city to find money elsewhere or reduce services.