rbt
Senior Member
what are the city land transfer taxes used for now?
Nearly the entirety in Toronto goes directly to debt from capital projects already completed. That, in turn, frees up borrowing space to take on new debt for new projects.
So, in short, you'll need a lot more than the current Land Transfer Tax to increase infrastructure investment.
Since the LTT revenue is unreliable, lenders (and the city accountants) don't rely on it continuing; meaning you cannot borrow against it directly.
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