Spread of Municipal LTT - Call to Action

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Spread of Municipal LTT - Call to Action 
 

October 27, 2015 -- The Ontario Ministry of Municipal Affairs and Housing has indicated that they intend to allow every municipality in Ontario the power to charge a Municipal Land Transfer Tax (MLTT), a change that could double the land transfer taxes consumers have to pay on their next home.   

Since 2008, only the City of Toronto has been able to levy a municipal land transfer tax.  A recent study showed that the Toronto land transfer tax has cost the city almost 15,000 jobs and $2.3 billion in lost economic activity.

Together we can stop the spread of this tax to other municipalities. TREB along with OREA and REALTOR® Boards/Associations across Ontario are taking action against MLTT.   
 

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Riyaz Rauf

Riyaz Rauf

Sales Representative
CENTURY 21 Innovative Realty Inc., Brokerage*
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