The Toronto Taxpayers Coalition is set to mark the third anniversary of the Municipal Land Transfer Tax tomorrow.
“On February 1st, 2008, city council gave us a new tax,” said Matthew McGuire, President of the Toronto Taxpayers Coalition. “To mark this date, we are discussing how the land transfer tax has made real estate less affordable in Toronto.”
The municipal land transfer tax has hurt both the home-buyer and home-seller. The Toronto Taxpayers Coalition is urging council to reopen the issue and eliminate the tax. “The land transfer tax means the buyer has less money to spend, and the seller receives less for their home,” McGuire added. “There are no winners.”
The Toronto Taxpayers Coalition is a non-partisan organization founded in 2010 that advocates for lower taxes and more accountable government in Toronto.