Next year house closing costs could cost you so much more if you're holding off.
Very important issue at Queen’s Park for Buyers and Sellers of Real Estate!
Three weeks ago, the Ontario Real Estate Association (OREA) learned from sources inside government that the province intends on giving municipalities the ability to levy a municipal land transfer tax (MLTT).
I don’t have to tell you how devastating this could be to the dream of home ownership in our province. 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.
If the municipal land transfer tax were to spread province-wide, Ontario would have the distinction of being the most taxed jurisdiction in North America when it comes to buying a home, said the OREA, which represents 62,000 brokers and salespeople who are members of the 40 real estate boards throughout the province.
In response to this news, OREA launched a campaign to prevent the spread of the MLTT. The campaign launch was a big success and garnered a tremendous amount of media coverage. We have a lot of momentum but we need your help to keep it going!
Today, Leeds-Grenville MPP Steve Clark 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. We need to put pressure on MPPs to protect affordable home ownership in our province and vote YES to Mr. Clark’s motion.
Please click here and ask your MPP to vote in favour of Steve Clark’s motion. It takes just 30 seconds.
Thank you for your support. Together, Ontario REALTORS® are helping to protect affordable home ownership in our province for future generations.
President, Ontario Real Estate Association