Tell me again how the Toronto Land tranfer tax is needed....

I try not to get involved in city politics or incessant blogging like today's failed journalists that have become realtors on the side.

This issue, however, has been a thorn in my side since 2007.....and it should be to any of you who have sold a home and have bought again since 2008 to present.

The city is going to have a $115 million surplus projected for 2012 as reported by the Toronto Star.

What???????

In 2012, the city will have collected $330 million from the Toronto land transfer tax for 2012.

I am no MATH WHIZ but roughly 1/2 of this tax is, therefore, surplus income.

That is NOT factoring in the Ontario Land Transfer tax  which, as a reminder, is ALL that you paid up to 2007.

How are Toronto home owners allowing the government to focus on "competition in organized real estate" vs the completely non-negotiable & un-needed secondary land transfer tax.

Yes, I'm still pissed about this since 2007!! You should let your MP know how pissed you are. And dont let Rob Ford forget that removing the "Miller Tax" is one of the major promises that he has yet to keep. Bring back the $60 car tax and get rid of the MUCH larger thorn.

 

Paul Indrigo

Paul Indrigo

Sales Representative
CENTURY 21 Regal Realty Inc., Brokerage*
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