Toronto Land Transfer Tax is New Provincial Government s First Test on Municipal
Finances: Toronto REALTORS®
Toronto s REALTORS® congratulate all of the newly elected MPPs
and we thank all of the candidates that ran.Every election is a reminder of how
privileged we are to live in this City,Province and Country, said Maureen
O Neill,President of the Toronto Real Estate Board (TREB).We look
forward to working with the new MPPs.
With Toronto City Council poised to vote on an unprecedented 100 per cent increase
in land transfer taxes on home buyers in just 11 days,Toronto s REALTORS®
believe that the City s finances are the first opportunity for the new provincial
government to indicate how serious they take municipal issues.
The upcoming vote on a 100 per cent increase to Toronto land transfer
taxes is the new provincial government s first test on municipal finance
issues.The question to them is simple:will the provincial government take strong
action and signal a new,fair course for municipal finances? said O Neill.
TREB believes that the City of Toronto s financial situation is one of
the highest priority issues for Torontonians.
The public feels strongly that a second land transfer tax is not the
answer to the City s financial difficulties.In just the last few weeks,we
have seen literally thousands of emails from the public to municipal and provincial
politicians,including all of the provincial party leaders,from our www.NoHomeBuyingTax.com
web site, said O Neill.Over and over,these people are demanding
provincial action for fair solutions to the City s financial challenge.We
hope they are not ignored.
REALTORS® and the public are watching to see how the new provincial government
will respond to their calls for action on City finance issues.
The public expects strong provincial action and an immediate signal to
Toronto City Council that a second land transfer tax is not a fair option,
added O Neill.
More information is available at www.NoHomeBuyingTax.com.
Toronto REALTORS® are passionate about their work. They adhere to a strict
code of ethics and share a state-of-the-art Multiple Listing Service. Serving
more than 26,000 Members in the Greater Toronto Area, the Toronto Real Estate
Board is Canadas largest real estate board. Greater Toronto Area open house
listings are available on www.TorontoRealEstateBoard.com.
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