Friday, October 12, 2012

Mississauga Toys with Land Transfer Tax

I though Mississauga had money and Plenty of Reserves...

Mayor Hazel McCallion has introduced a Land Transfer Tax and Mississauga Councillors have slapped it down.  The tax that would have gone a long way to curtail looming budget crisis ... which, if you take the Toronto road, could lead to a decrease in home sales with the public opting for renovations instead of selling.  It would also create the double whammy of a provincial and city land tax.

CD HOWE reports on Land Transfer Tax Impact 

Ontario municipalities looking to enhance their bottom lines through changes to the Municipal Act on regulations such as a 'Land Transfer Tax' is not new and along with OREA and TREB political actions will continue to be fought.  Please know that MREB on your behalf is mounting a campaign against Mississauga's move ... and in due course we will be asking for your support.  We will keep you posted as the plan takes shape.  

For further information read the following articles:

Report: Mississauga Budget Committee Agenda/Report

How well managed is your community?

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