The Ontario government intends on giving municipalities the ability to levy a municipal land transfer tax (MLTT). This could be devastating to home ownership for many people.
Already on closing the average home purchase in Ontario faces thousands of dollars in transfer tax payments to the province. According to calculations from OREA, if the Ontario government follows through with this plan, home buyers will be forced to pay $10,000 in total land transfer taxes on the average priced home in Ontario.
Leeds-Grenville MPP Steve Clark recently introduced a motion calling on the Ontario government to oppose the spread of the MLTT. MPP Clark’s motion will be debated on December 3rd. That leaves little time for you to voice your opposition to this planned tax and support MPP Clark's motion.
There is an easy way for your voice to be heard. You can let your local MPP know that you want to protect affordable home ownership in our province and vote YES to Mr. Clark’s motion.
It can all be done in under one minute with the easy submission form found here.
Together with your support Ontario REALTORS® are helping to protect affordable home ownership in our province for future generations.
In the greatest government relations wins in OREA history, Ontario REALTORS® have helped put a stop to one of the largest tax increases on home ownership in a generation.
ReplyDeleteToday, the collective opposition to the MLTT was heard in the legislature. Minister of Municipal Affairs and Housing informed the House that the legislature will not be giving the ability to charge a municipal land transfer tax to Ontario municipalities.
"My job as Minister is to be a voice for our municipal partners. And that means listening carefully to our partners and stakeholders," said Minister McMeekin. "While we are currently reviewing feedback from our partners, it is clear that there has been no call for a Municipal Land Transfer Tax. I was pleased to communicate our government position today, that other than Toronto, where the power already exists, our government will not be extending Municipal Land Transfer Tax powers to other Ontario municipalities."