Is Mayor Olivia Chow Toronto’s Zohran Mamdani?
Preface: Humans are predictable. We search for similarities in those we admire or trust, hoping they will initiate the change in the status quo that we urgently need. This phenomenon is known as setting a precedent, and practical precedents are often seen as worthy of imitation. Such is the case with the “Zohran Wave,” which began in NYC in June and continues to gain momentum, attracting new supporters every day. His significant electoral victory signifies that he resonates with people seeking change—not just in his own city but as a trendsetter in electoral politics, inspiring the so-called “Zohran Spin-offs” in places like Maine and Michigan. At the same time, some believe that he’s a man designed by time itself. To fulfil a need, correct a wrong, set things right for a world that, otherwise, seems to be heading towards a destination unknown. A future marked by poverty. Crises. Division. Hate. Oppression. And yes, Genocide.
The News: Taking a leaf out of not just Zohran, but any astute administrator’s handbook, Mayor Olivia Chow, a public servant with a will and vision of her own, has decided to fish “where the fish are” – in the wallets of Toronto’s super rich.
In a move likely to provoke an intense backlash from corporate lobbyists, who might accuse her of being ‘anti-rich’ or worse, a communist, Mayor Chow is proposing a motion that will require luxury home buyers in the city to pay a higher percentage of property and land transfer taxes on their purchases (see the table below for percentage changes).
According to her proposal, which will be submitted to the executive committee next week, houses priced between $3 million and more than $20 million will incur a higher tax rate on an ascending scale; that is, the more expensive the mansion, the greater the tax burden.
Mayor Chow and her team of economic advisors expect this proposal to generate an additional $13.8 million in 2026, raising total revenue from these taxes to $152 million.
She is framing this proposal as a way to fund other city-sponsored measures aimed at affordability, which will be discussed during Toronto’s upcoming budget deliberations.
“I’m proposing that the wealthiest two per cent of property buyers, who make up just half of one per cent of Toronto residents, contribute a bit more so we can invest in services that Toronto families rely on,” Chow stated outside her office at city hall.
She also emphasised that these funds would help cover costs for initiatives like school nutrition programs and the recently announced third annual TTC fare freeze.
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