New Campaign against Toronto Land Transfer Tax Launched in light of Concerning Poll Results

 In light of new, concerning, public opinion polling results that

show significant numbers of Toronto residents planning to leave the City when they

move, Toronto REALTORS® are launching a multi-faceted campaign, including a new

web site (www.LetsGetThisRightToronto.ca), advertising, social media, and other tools,

to help Torontonians tell City Council that they want the Toronto Land Transfer Tax

repealed, so that Toronto can reach its full potential as a world class City.

“Toronto’s greatest strength is the people who choose to make this City their home. We

can’t make Toronto a world class City by pushing people away, but that’s exactly what

the Toronto Land Transfer Tax is doing. Together, we can build a great city, but we

need to get this right,” said Richard Silver, President of the Toronto Real Estate Board

(TREB).

A recent poll conducted by Ipsos Reid, found that 25 percent of Torontonians expecting

to move in the next two years are planning to leave Toronto for the 905 regions. In

contrast, only three percent of 905 residents expecting to move in the next two years

are planning to come to Toronto. Looking at the cause of this trend, the poll also found

important links to the Toronto Land Transfer Tax, with 75% of people in Toronto and the

905 regions who are expecting to move in the next two years saying that they are more

likely to move outside of Toronto specifically because of the Toronto Land Transfer Tax.

Among the other findings of the poll were:

!

66% of Torontonians support plans to repeal the Toronto Land Transfer Tax;

!

77% of Torontonians who recently purchased a home in Toronto feel that they

received little or no added value in City services for the amount of Land Transfer

Tax paid;

!

A third of first-time buyers indicated that they had to pay some Land Transfer Tax

to the City, notwithstanding City rebates.

“This campaign is about allowing our City to reach its full potential. The Toronto Land

Transfer Tax is no way to build a great City. It creates inequality among our residents;

it perpetuates irresponsible City budgeting; it threatens jobs; it makes our City less

affordable; it makes City Hall less accountable; it hurts our environment; and it makes

our roads even busier. We look forward to highlighting these issues and impacts as our

campaign progresses

Rudy Reznik

Rudy Reznik

Broker
CENTURY 21 Atria Realty Inc., Brokerage*
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