The City of Toronto is proposing a second land transfer tax that means a 100% increase when you purchase a home. Calculate what it will cost you, then take action by clicking below link:

http://www.nohomebuyingtax.com/index.htm

Quick facts:

* A second land transfer tax on top of current provincial land transfer tax.

* Less money for downpayment, furniture, appliances or renovations.

* No local home buying tax in 905 region.

* Hurts those who can least afford it (first time buyers etc.)

* Would ultimately cost over $15,000 for the average buyer.

* No other CDN jurisdiction has two home buying taxes.

* Toronto would have the highest land transfer taxes in Canada and the second highest in North America.

* All first-time buyers of re-sale properties, and most first-time buyers of new homes, would be forced to pay the City's land transfer tax.

* Toronto is the only municipality in Ontario allowed to charge a second land transfer tax.

* Homes for sale in Toronto would be less marketable than those outside of Toronto. This could impact your property value.

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

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Thanks for the info. Here is what I think....

These are two most certain things that we can expect. But why is it that they are doing both in one stroke?

Yes they are taxing us to death. OR are they desperate?

We are sitting ducks. Take it as it comes....

905 area is a vast region and some are out of their jurisdiction too. Why not 416, 519, 647 or for that matter 613 area too, who cares?? It is money that they want. Squeze the whole lot of them too.

You know what I want to call them?

"EGG SUCKING DOGS"..... Ha Ha

Freddie.

I am lot living in Toronto, so why should I be worried?

This is the question I get when I mention about the proposed Toronto City's Land Transfer Tax. Don't hold your breath. The city politicians & bureaucrats across Ontario are watching how this thing goes through in Toronto. If they succeed, it won't be long before Peel, Durham, Halton and other regions push the province for similar powers to tax us folks.

And if you are a seller, don't feel that that buyers would easily cough up that increase. Buyers will expect the sellers to share this burden.

There is a choice....either passively watch the City implement this or take action.

What can you do?

Write to your MPP, send letters to the media, involve your MP and/or write to David Miller. Amit has sent a link. I urge you to please make use of it.

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

CDs,

I believe most of you must have sent the email to the mayor and other councilors requesting them to re-consider their decision of levying the proposed City of Toronto Land Transfer Tax.

I used the link provided by Amit in his post and sent the email to the mayor with a copy to all the councilors and one of the councilors has replied as under:

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Thank you for the email expressing concerns with the new taxes in Toronto. From listening to or watching Council debates, you may already know that I am continually opposed to tax increases.

In November of 2006, Torontonians voted to re-elect Mayor David Miller.
The new taxes are proposed by the Mayor and like-minded Councillors.

Please contact Mayor Miller directly, to express your concerns:


416-397-2489 (T)
416-696-3687 (F)
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I would request all CDs to express their concern about this proposed increase by sending email to the mayor or phoning his office and let the board know what reply, if any, is received by them.

Thanks.

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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada