Item - 2025.EX28.1

That:

1. City Council request the Chief Financial Officer and Treasurer to review the First Time Homebuyers Rebate Program and consider options to improve the program, including necessary offsets, in the budget process.

That:

1. City Council request the Mayor to consider allocating all the revenue from the Municipal Land Transfer Tax increase to transit and housing that benefits Torontonians.

That:

1. City Council request the Province of Ontario to provide the City of Toronto a percentage of the Harmonized Sales Tax to lessen the City’s reliance on the municipal land transfer tax.

That:

City Council request the Chief Financial Officer and Treasurer to report back to City Council with options to rescind the increases to the Municipal Land Transfer Tax outlined in Recommendation 1, at such time that the City successfully negotiates a new deal that addresses and mitigates the structural deficit within the operational budget.

That:

1. City Council amend the First Time Purchaser Rebate, as outlined in Municipal Code Chapter 760, to increase the rebate to provide the equivalent of a full rebate for first-time purchasers of residential properties for values of consideration from $400,000 to $800,000, effective March 1, 2026, subject to the Mayor's proposed 2026 Budget including sufficient funds.

That:

City Council amend Motion 1 by Mayor Chow by inserting  "including an increase the rebate to provide the equivalent of a full rebate for first-time purchasers of residential properties for values of consideration from $400,000 to $800,000, effective March 1, 2026" so that it reads as follows:

1. City Council request the Chief Financial Officer and Treasurer to review the First Time Homebuyers Rebate Program and consider options to improve the program, including an increase the rebate to provide the equivalent of a full rebate for first-time purchasers of residential properties for values of consideration from $400,000 to $800,000, effective March 1, 2026, including necessary offsets, in the budget process.

That City Council refer the item to Chief Financial Officer and Treasurer to report back on expected revenues and market impacts of the proposed changes as part of the 2026 budget process.

After Speaker Nunziata announced that she was moving on to Speakers, Councillor Bradford, rising on a Point of Privilege, stated that he was able to put his name of the list to question, because the Speaker hadn’t closed the list.

Following Councillor Perks’ questioning of Councillor Bradford on his motions, Councillor Holyday, rising on a Point of Order, stated that he would like to know how long a Member has to answer a question, because he has been in the same scenario where he has asked a question and the other Member of Council took the full three minutes to respond. Councillor Holyday further stated that he just wants to know what’s expected of Members of Council?

Councillor Bradford, rising on a Point of Privilege, stated that he would ask that the rules as the Speaker has articulated them be applied equally and universally for every Member of Council, as he thinks that there are some Members in the Chamber that feel they are not receiving that from the Speaker right now. Councillor Bradford further stated that he would ask the Speaker to be fair to everybody, regardless of if she likes them or doesn’t like them, and that she discharges her duties as Speaker in a fair and equitable way for everybody.