MacLeod and Clark Join Real Estate Agents and Homebuilders to Oppose Increases to Home Ownership Tax
OTTAWA – PC MPP for Nepean-Carleton, Lisa MacLeod, today joined Bob Ridley, president of the Greater Ottawa Homebuilders’ Association, Patricia Verge, President of the Ontario Real Estate Association and Ontario PC Deputy Leader and MPP for Leeds-Grenville Steve Clark to support Clark’s motion calling on MPPs to take a stand against the Wynne Government’s plans to pave the way for a massive tax grab on the province’s home buyers.
Clark tabled the following motion on November 3: In the opinion of this House, the Government of Ontario should not impose, or help municipalities facilitate the imposition of any new municipal land transfer taxes (MLTT).
“At a time of skyrocketing hydro rates, doubling the amount of land transfer taxes a home owner must pay on their home will crush the home ownership dreams of many Ontarians,” said MacLeod.
Clark noted that an MLTT would have devastating consequences for Ontario’s economy by making the province the most uncompetitive tax jurisdiction in North America for buying a home. It is estimated extending the MLTT to all municipalities would increase the amount of land transfer taxes on an average home to more than $10,000.
Currently in Ontario, only the City of Toronto has the authority to charge an MLTT in addition to the provincial land transfer tax home buyers already pay. It’s estimated the MLTT has already cost the City of Toronto up to $2.3 billion in lost economic activity and some 15,000 jobs.