Land Transfer Tax Could Double
Homebuyers are being advised that municipalities may soon be able to hike the land transfer tax.
The provincial government is set to give all municipalities the right to double the tax, which is currently two per cent of the purchase price.
Donna Mathewson of the Sarnia Lambton Real Estate Board told Sue Storr on The Talk Show on CHOK Tuesday, a campaign has been launched to educate the public about the possible ramifications.
The Ontario Real Estate Association has launched a website opposing the changes, www.donttaxmydream.ca