Mayoral candidate Georgio Mammoliti vowed Tuesday to eliminate property taxes for seniors and reward families who choose to take care of the elderly at home.

The property tax cut would benefit seniors whose household income is less than $65,000.

Mammoliti said at a news conference the city would give families $10,000 to help take care of seniors at home, in order to give the elderly "some dignity."

It costs Toronto about $200 a day to house seniors in one of 10 city-run seniors homes, he said, noting that there are also 1,500-people waiting to get admittance.

He told a crowd of 200 seniors at the Columbus Centre that today's property tax rates are forcing seniors out of their homes.

"Seniors have paid enough property taxes, it's time we repay them and allow them to live their lives comfortably and with dignity in their own homes," he said.

Seniors wouldn't be the only one receiving tax cuts.

Mammoliti said if he is elected he will cut property taxes by 5 per cent for both home and business owners.

"We need to rethink the way Toronto does business. Torontonians are being unfairly taxed by a municipal government that refuses to seek alternative options to alleviate rising taxes incurred by the residents of Toronto," he said.

The current city councillor said he would cover the costs of the cuts by trimming bureaucracy at city hall, creating a Toronto-based lottery and raising boat club rental fees to $1 per square foot.

The current club rental rate stands at $0.07 per square foot.

Mammoliti will debate the policy announcement at a mayoral debate Tuesday night, hosted by CTV Toronto's sister station CP24.