This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies.
More information


 

          New Home Buyers           

 


Have a Realtor Find You
The Best Properties
Credit or Employment Issues?

 

 

Mississauga Home Buyers - Stop The Mississauga Land Transfer Tax!

November 30, 2012 - Updated: November 30, 2012

 

Help Stop The Mississauga Land Transfer Tax

Mississauga's City Council is considering imposing a Mississauga Land Transfer Tax in addition to the Provincial Land Transfer Tax. If approved, it will cost buyers $10,000 upfront for the average detached home for sale in Mississauga.

  • The Mississauga Land Transfer Tax is an inequitable form of taxation because it targets people who need to move homes: downsizing seniors, growing families, etc.
     
  • Mississauga home sales would decline as a result of the The Mississauga Land Transfer Tax. CD Howe Institute's research report states that: because of the Toronto Land Transfer Tax, home sales are 16 per cent lower than they should be. A similar effect can be expected with homes for sale in Mississauga. This would translate into lost jobs in Mississauga as a result of reduced spending on renovations, movers, furnishings, etc. 
     
  • The Mississauga Land Transfer Tax would reduce Mississauga’s Competitive Advantage.  A recent poll conducted by Ipsos Reid found that 75 per cent of GTA residents are more likely to move outside of Toronto and buy a home for sale in Mississauga, for example, to avoid paying Toronto's Land Transfer Tax. A Mississauga Land Transfer Tax would mean that Mississauga would lose this advantage.
     
  • Creates hardship for families.

    Email the Mayor and City Council - Copy this blog post and Send >> CLICK HERE

Tagged with: land transfer tax home buyers mississauga land transfer tax
| | Share

Leave a comment...


 
Michael Czan
Real Estate Sales Representative
mczan@sutton.com

Sutton Group Realty Systems Inc.
Brokerage
Independently owned and operated

1528 Dundas St. West, Mississauga, Ontario L5C 1E4

Mobile: 647-889-5020  Phone: 905-896-3333  Fax: 416-317-3435
Powered by Lone Wolf Real Estate Technologies (CMS6)