The foreign buyer’s tax is in full swing in B.C. and Toronto politicians are now deliberating the merits of one in their city.
Toronto city councillor Jim Karygiannis says he’s commissioned a city-wide poll to gauge the interest a tax similar to the one in B.C.
“This is something that I’ve been following, I’ve been watching the results, and that model very much interests me, that I would like the City of Toronto to look at implementing something along those lines.”
New numbers from the province indicate the foreign buyer’s tax is contributing to the plummeting of sales involving foreign nationals in B.C.
Karygiannis believes Vancouver’s problems are making their way to his city.
“I think you’re shifting this stuff from out west to east.”
“And hopefully we will learn from Vancouver, watch Vancouver, and we will probably come up with some ideas of our own, as we experiment with this.”
Karygiannis says he’s open to all options, including an empty home’s tax like Vancouver’s.
He hopes the city-wide poll will provide more details in the coming month.