Kun-Won Park

Making the city affordable for youths and seniors

 

 

• Freeze property tax for seniors who live in over $1M houses with no income. Over the past two decades, housing market went up significantly and so has property Tax. This became a burden to seniors who do not have extra income. So a lot of seniors whose homes are over $1M are worried and plan to sell the house which has sentimental values.

 

•  First time home buyer's Land transfer Tax benifit extend to $350,000. Currently, Government of Ontario refunds first time home buyers up to $300,000 and Max of $2,000. I want to wave the first time home buyer's Land transfer tax extend up to $350,000. I would like to propose $350,000 and max of $3,000 to help buying houses in Toronto. Either city subsidies extra $1000 or split the difference with provincial government.