TORONTO, Ont. – The city’s budget chief is starting to turn his attention to the mayor’s election promise of eliminating the land-transfer tax.

The city has another $20-million more in its possession than the $70-million it saved from budget cuts, labour costs and higher than expected revenues from the land-transfer tax.

Since budget chief Mike Del Grande has a surplus amount larger than expected, he can begin to look for ways to tackle the Mayor Rob Ford’s pledge of getting rid of the land-transfer tax.

Del Grande told 680News the proposal is at least on the table.

“I’ve held out on two budgets simply because we could not do it,” Del Grande said.

The tax brings in $350-million a year, so Del Grande says it cannot be exterminated overnight, there will have to be a slow weaning process.

“A modest decrease each and every year would be one of the ways that I would look  at tackling it. Maybe 5 per cent a year,” he explained.

At that rate it could take 20 years to eliminate the tax.

Councillor Gord Perks says getting rid of the land transfer tax is all about scoring political points.

“The mayor made a wild eyed and naive promise during the last election and he’s trying to keep that commitment,” said Perks.

If possible Del Grande wants the first land transfer tax cut to happen next year.