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.