OREA fights Municipal Land Transfer Tax

REM Online

The Ontario Ministry of Municipal Affairs and Housing plans to give every municipality province wide the power to charge a Municipal Land Transfer Tax (MLTT), says the Ontario Real Estate Association (OREA).

“Ontario home buyers are already charged a provincial land transfer tax, so by adding a municipal tax, they’re essentially doubling the tax burden on Ontario families,” says Patricia Verge, president of OREA. “If the Ontario Liberals follow 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, starting as early as next year.”

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Michael James

Michael James

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