Land Transfer Tax grabs AGAIN? When will the city understand that this is NOT a reliable income stream for Toronto. This is a more like “lipstick on a pig!” Real Estate sales contribute at least 25% of the city’s GDP and it is best NOT TO MESS with it. So making purchasing less affordable is not the path best travelled.
The Toronto Real Estate Board is urging Toronto City Council to act early to stop a potential significant Land Transfer Tax increase, a proposal that is currently working its way through the City’s approval and budget process.
The last thing people want to hear is that City Hall wants them to dish out another $750, on top of the $11,000 that they already pay. City Hall should be looking for ways to make housing affordability in Toronto better, not worse; especially for first-time buyers who, under these proposals, will be going backwards, or at best be no better off. It’s like “the lord giveth and the lord taketh away”…we just celebrated an increase in the rebate for first time buyers and now we punish them with another tax grab? Really?
Read more about the proposed changes here: http://bit.ly/2gT3SPE
Then let me hear your outrage!!
Land transfer tax grabs do nothing to improve the city, its infrastructure or anything related to providing better services for Toronto citizens. Land transfer tax grabs are totally dependent on the ups and downs of sales in a year. They are not predictable and there are much more sustainable ways to raise money for the city.
If you (or someone you know), are looking for a Realtor who cares MORE about focusing on you, your concerns, goals and the successful purchase or sale of YOUR unique home, than they care about their volume of transactions and awards, please let me know the best way for me to connect, as I would love to offer my highly personal service. Contrary to that old expression, not only IS this business, but it IS personal! And, please, I encourage you to ask me any questions you may have about this post. I value your input and appreciate the time you took to read it.