TORONTO

David Soknacki promised Friday to reform Toronto’s land transfer tax if he’s elected mayor.

The policy announcement comes as Soknacki’s mayoral campaign continues to roll out concrete promises in its fight to knock out Mayor Rob Ford.

“Homeowners in particular are being saddled with a tax that has not changed with the times,” Soknacki said Friday at City Hall.

Under Soknacki’s plan, the land transfer tax would be pegged to housing price inflation so the land transfer tax brackets would rise as house prices increase.

“What we’re doing is we are adjusting those taxes so that there will be savings for those that have entry level homes,” he said.

Ford campaigned in 2010 on scrapping the land transfer tax entirely. He has since admitted cutting the tax is not possible this term but has repeatedly pledged to try to start to chip away at the tax if he’s re-elected.

“It sounds like a triumph of hope over experience,” Soknacki said. “If he believes he can (start to cut the tax) I challenge him to put it forward at the next meeting of council ... to see if it happens. Don’t think it will.”

Councillor Doug Ford incorrectly claimed Soknacki was budget chief when the land transfer tax was brought in. Soknacki wasn’t on council at the time it was approved.

“I know (Soknacki) loves increasing taxes to build streetcars. We believe in lowering taxes to build subways, that’s the difference,” Ford said.

Ford’s claim ignored the fact Mayor Ford voted in favour last year of the Scarborough subway extension that included a plan for a property tax hike to help fund the city’s portion of the project.

Soknacki has promised to scrap the Scarborough subway extension and try to revive the cheaper Scarborough LRT (that doesn’t require a tax hike) to replace the Scarborough RT line.

Ford — who is Mayor Ford’s campaign manager — has been on the warpath in the past few weeks lashing out at possible mayoral candidate John Tory.

Tory has been characterized by Ford — a wealthy businessman himself — as an elitist and part of the 1% crowd.

On Friday, the mayor’s brother denied the Fords were part of the elite.

“We don’t have a bunch of wine-sipping elitists coming to our parties,” he said.