Greater Toronto REALTORS®, and the pub­lic, con­tinue to look for­ward to the ful­fill­ment of the elec­tion com­mit­ment, of Mayor Rob Ford and numer­ous City Coun­cil­lors, to repeal the Toronto Land Trans­fer Tax.

“It is clear that the pub­lic expects the Mayor and City Coun­cil to move for­ward with the com­mit­ment to repeal the Toronto Land Trans­fer Tax, and it is unlikely that they will for­get about this. This is a sig­nif­i­cant tax: it costs the aver­age Toronto home buyer almost $6,500, and when added to the Provin­cial Land Trans­fer Tax, aver­age Toronto home­buy­ers face almost $14,000 in land trans­fer taxes. REALTORS® look for­ward to work­ing with the Mayor and City Coun­cil on a rea­son­able approach to deliver on this promise,” said Toronto Real Estate Board Pres­i­dent Bill Johnston.

TREB has con­sis­tently opposed the Toronto Land Trans­fer Tax as an unfair tax that hurts Toronto’s econ­omy. TREB strongly believes that the com­mit­ment by Mayor Rob Ford, and numer­ous City Coun­cil­lors, dur­ing and after the elec­tion cam­paign to repeal the Toronto Land Trans­fer Tax was, and is, sensible.

“Recently, the City’s Bud­get Chief has pointed out the bud­getary chal­lenges fac­ing the City. REALTORS® believe that City Coun­cil is mov­ing in the right direc­tion by con­duct­ing a com­pre­hen­sive review of City ser­vices; we also strongly believe that the com­mit­ment to repeal the Toronto Land Trans­fer Tax can, and should, move for­ward,” said Johnston.

A recent pub­lic opin­ion poll con­ducted by Ipsos Pub­lic Affairs found that 75 per cent of Toron­to­ni­ans sup­port Toronto Mayor Rob Ford’s com­mit­ment to repeal the Toronto Land Trans­fer Tax.

In light of the City’s Bud­get Chief’s recent com­ments, the poll con­tained inter­est­ing results. In par­tic­u­lar, even when asked to con­sider the City’s expected bud­get short­fall, the public’s sup­port for the repeal of the Toronto Land Trans­fer Tax remains very strong, with 68 per cent of Toron­to­ni­ans believ­ing that the Mayor should follow-through on this com­mit­ment, despite the City’s bud­get challenges.

The poll also found that the pub­lic is pay­ing atten­tion to this issue: a large num­ber of Toron­to­ni­ans, 61 per cent, were pre­vi­ously aware that Mayor Ford has com­mit­ted to repeal the Toronto Land Trans­fer Tax.

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Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.
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