Toronto residents use political art to push for “Gentrification Tax” to keep neighborhoods affordable


The billboard suggested the rapid rise in home values between 2008 and 2017 necessitates a steep tax aimed at speculative flipping. The proposed tax would grab as much as 100 per cent of the profit from a home resale during the first year of ownership, then decline by increments of 10 per cent over 10 years. It would target non-resident and resident buyers alike, including primary residences [...] the goal is to keep Toronto’s popular neighbourhoods affordable for all income levels.



Justine Testado via Archinect - News http://bit.ly/2OUOmEy

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