Mayor Hazel McCallion has introduced a Land Transfer Tax and Mississauga Councillors have slapped it down. But, it might also lead straight to a reduction in home sales if the public opt to choose re-building their homes rather than selling. The tax would have gone a long way to stop a looming budget crisis ... It would also create the double whammy of a provincial and town land tax.
Ontario municipalities looking to enhance their bottom lines through changes to the Municipal Act on regulations like a 'Land Transfer Tax ' isn't new and together with OREA and TREB political actions will continue to be fought.
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