Cities outside Toronto cannot charge land-transfer tax, Ted McMeekin says

Ontario backs down on municipal land transfer taxes, as they would add thousands to the cost of homes. Homebuyers outside Toronto no longer have to worry about paying thousands of dollars in local land transfer taxes. Municipal Affairs Minister Ted McMeekin shut down speculation Tuesday that cities and towns would be given permission to bring in their own such levy in addition to the provincial land transfer tax. “There has been no … [Read more...]

Idea of land transfer tax gains traction in Mississauga

Despite efforts by Mississauga’s real estate board to head off any talk about a land transfer tax, Mayor Hazel McCallion may be winning council support for the lucrative idea. Last month McCallion was the lone voice advocating strongly for a city land tax similar to Toronto’s, payable by property purchasers. But opposition seems to be softening as council grapples with a $1.5 billion infrastructure deficit, user fee hikes and an unfunded LRT … [Read more...]