Spread of Municipal Land Transfer Tax in Ontario

Since the year 2008, only City of Toronto has been able to levy a municipal land transfer tax.

A recent study indicated that the Toronto land transfer tax has cost the city almost 15,000 jobs and $2.3 billion in lost economic activity.

Now, The Ontario Ministry of Municipal Affairs and Housing has indicated that they plan to allow every municipality in Ontario the power to charge a Municipal Land Transfer tax. This change can double the land transfer taxes consumers have to pay on their next home.

The Toronto Real Estate Board, OREA and REALTOR Boards/Associations across Ontario are taking action against Municipal Land Transfer Tax (MLTT).

TREB is calling on all Members to take action now and say NO to another home owner tax.

**If you would like to voice your concern and support the campaign to stop MLTT, you can do so by visiting http://donttaxmydream.ca/helpstop.html.**

The website states that MLTT puts an unfair burden on home buyers:

*6 in 10 Ontarians think the MLTT is an unfair tax on homeowners

*3 out of 4 Ontarians say that an MLTT would delay their decision to buy a home

You can find more information by visiting the website:

http://www.donttaxmydream.ca