Ontario’s provincial government has decided it will not extend the power to charge a Municipal Land Transfer Tax to municipalities outside of Toronto, where it already exists.
“This is a huge win for Ontario’s homeowners and those who dream of one day owning a home. It reaffirms that the Municipal Land Transfer Tax is a bad revenue tool, not just outside Toronto but in it as well,” says Patricia Verge, president of the Ontario Real Estate Association (OREA).
OREA led a five-week campaign called Don’t Tax My Dream that saw Realtors and 32,000 members of the public voice their opposition to the spread of the tax province-wide.
“I would like to also acknowledge MPPs on all sides of the legislature who spoke both publicly and privately against the tax,” says Verge. “Your work has helped protect affordable home ownership for future generations.”