The Toronto Real Estate Board (TREB) has launched a new campaign to get the Toronto Land Transfer Tax appealed.
The board commissioned a study by Ipsos Reid that shows “significant numbers of Toronto residents planning to leave the city when they move,” says the board. TREB’s campaign includes a new web site (www.LetsGetThisRightToronto.ca), advertising, social media, and other tools.
The poll found that 25 per cent of Torontonians expecting to move in the next two years are planning to leave Toronto for the 905 regions. In contrast, only three percent of 905 residents expecting to move in the next two years are planning to come to Toronto. TREB says the poll found “important links to the Toronto Land Transfer Tax, with 75 per cent of people in Toronto and the 905 regions who are expecting to move in the next two years saying that they are more likely to move outside of Toronto specifically because of the Toronto Land Transfer Tax.”
It says 66 per cent of those surveyed support plans to repeal the tax and 77 per cent of Torontonians who recently purchased a home in Toronto feel that they received little or no added value in city services for the amount of tax paid.
All that you say Brian is so true. Solution? I don't see it in the horizon.
However, insofar as the Toronto LTT I personally see it as a good thing at this time. Home prices are already at record highs and are still selling like crazy. Can you imagine what it would be like if the Toronto LTT was removed?
The real estate market MUST slow down otherwise it will in due course head for disaster. Simply put: PEOPLE ARE SWIMMING IN DEBT. Do we really need to encourage more consumer debt? I think not.
Another former Toronto City Hall governance cash-grab compliments of the tax and spend for votes Millerites' socialcrats levellers.
From here on in, everything is going to come down to the money…"What the hell are we/you getting for what 'they' are taking from us?!"
California USA cities are beginning to drop (as in in 'bankrupt') like buzzed-out flies as the result of "leaders'" big spending strategies for entitlement-seeking voters' favours at the polls. It's called being bribed with their/your own money.
It's all coming to and end, like it or not.
HHMMMM…CREA comes to mind as well.
Brian