Ontario Land Transfer Tax Going UP?!

Today, a simple and straightforward motion was introduced by Leeds-Grenville MPP Steve Clark asking MPPs to vote on the following: “In the opinion of this House, the Government of Ontario should not impose, or help municipalities facilitate the imposition of any new municipal land transfer taxes (MLTT).”

On December 3rd, MPPs from all three parties will have the chance to vote on this motion and let their constituents know whether they personally support or oppose higher taxes on home buyers. The motion is to be debated and voted upon during “Private Member’s Business,” where MPPs are permitted to speak and vote free of party influences.  This means that the vote will be a true reflection of individual MPPs’ leaning, not that of their party.

“MPPs have a chance to represent the will and interests of their constituents and oppose this unfair tax,” said Patricia Verge, president of OREA. “We’re calling on Ontarians to let their MPPs know home buyers are stretched and already pay enough tax by going to www.DontTaxMyDream.ca.”

The motion is in response to revelations that the Ontario government wants to give all municipalities the ability to charge a second land transfer tax on the purchase of a home. 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.

“Ontario home buyers are already charged a provincial land transfer tax, so by adding a municipal tax, they would essentially be doubling the tax burden on Ontario families,” said Verge. “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, starting as early as next year.”

“Ontario Liberals promised voters in the last election that they had ‘no plan’ to introduce the second land transfer tax they are now looking to impose on home buyers," Verge concluded. “On behalf of Ontario families, we urge them to keep their promise and help protect affordable home ownership for future generations.”

An Ipsos Reid poll shows that the overwhelming majority of Ontarians (89 per cent) outside of Toronto oppose a new municipal land transfer tax charged on home purchases in their area. Respondents agreed that if a new land transfer tax were put in place, it would limit their ability to afford a home (77 per cent) and they would likely have to delay a purchase (75 per cent). Ontarians agreed (77 per cent) that the government should do all it can to help families own their own home.

The Ontario Real Estate Association (OREA) is urging Ontarians to take two minutes to visit www.DontTaxMyDream.ca and use the online tool to send a strong message to their MPP that they do not support a doubling of land transfer taxes when buying a home.

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Rick Buncick

Rick Buncick

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