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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

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