Mayoral candidates split hard on expanding taxes for affordable housing
In Monday's Daily Bread debate, Chow and Alexander said yes to higher vacant-home and luxury-property taxes; Bradford said no, citing concerns about municipal spending.
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The 2026 Toronto mayoral race split sharply Monday on housing finance when candidates were asked whether to expand taxes on vacant and luxury homes to fund affordable housing.
Mayor Olivia Chow and Chris Alexander both answered yes. Councillor Brad Bradford answered no, framing it as part of a broader fiscal disagreement over the city's direction.
Chow created the luxury property tax in 2023 and increased the Vacant Home Tax from 1 per cent to 3 per cent that same year. In December 2025, city council also approved changes to the Municipal Land Transfer Tax, setting rates at 4.4 per cent on properties selling for more than $3 million and up to $4 million, and 8.6 per cent on properties selling for more than $20 million.
"As Mayor, Olivia Chow created the luxury property tax in 2023, and she also increased the vacant homes tax to target housing speculators who leave homes empty," her campaign spokesperson Zeus Eden said in a statement. "Toronto is facing an affordability crisis with historic uncertainty driven by Trump's tariffs."
Bradford's campaign pushed back, saying "Olivia Chow's position has always been more taxes, more fees, more staff. That's why property taxes are up nearly 20 per cent in just three years." The campaign added that Bradford "believes we need to manage our spending responsibly, focus on the city's real priorities, and do so without putting even more costs on the backs of working families in Toronto." Bradford's campaign said it will release more details of its fiscal plan later in the campaign and called on Chow to "come clean to Torontonians on which taxes she'll raise to fund the status quo."
Alexander did not provide a response to NOW Toronto by deadline. Both Chow and her campaign said the mayor will have more to say about her housing and fiscal plans "over the course of the campaign." Bradford has not disclosed specific alternative funding proposals for affordable housing.
What is Bradford's specific alternative funding model for affordable housing if he opposes tax expansion?
How much revenue has the luxury property tax and expanded vacant-home tax generated since 2023?
We'll update this story as answers emerge.
The facts
What taxes did Mayor Olivia Chow create or increase in 2023?
Mayor Chow created the luxury property tax in 2023 and increased the Vacant Home Tax from 1 per cent to 3 per cent that same year.
How many mayoral candidates said yes to expanding taxes on vacant and luxury homes?
Two candidates—Mayor Olivia Chow and Chris Alexander—said yes to expanding these taxes to fund affordable housing.
What does Councillor Brad Bradford say about Chow's fiscal approach?
Bradford's campaign contends that Chow's position relies on raising taxes, fees, and staff, citing a nearly 20 per cent property tax increase over three years.
