Olivia Chow is hoping an extra tax on Toronto’s most valuable properties will help her fill a hole in this year’s budget, as the mayor looks for ways to raise revenue without another sweeping increase.

Chow’s office said this week she was targeting an incremental increase to her so-called luxury homes tax to try and raise $152 million for city hall’s coffers.

The move, if approved, would mean slightly increasing the land transfer tax paid when people buy a new home for $3 million or above.

“It’s clear that the impact of our current economic uncertainty is not being evenly felt across our City,” Chow said in a letter to her council colleagues.

In Toronto last year, 1,164 homes sold in Toronto for at or above that price.

Chow said the increased fee is necessary in order to keep other pr

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