Municipal Land Transfer Tax will not be extended

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The Sault Ste Marie Real Estate Board is happy to announce that earlier this week, the Honourable Ted McMeekin, Minister of Municipal Affairs and Housing, announced that the government will not be extending the Municipal Land Transfer Tax power to Ontario municipalities outside of Toronto, where the power already exists.

“This announcement is extremely important for both current and future home owners in Sault Ste. Marie,” said Rob Trembinski, Chair of the Political Affairs and Advocacy Committee of the Sault Ste Marie Real Estate Board. “If our municipality had been given the opportunity to install this tax, local home buyers would be forced to pay thousands of extra tax on top of what they’d  already be paying out of pocket on closing. On behalf of the Sault Ste Marie Real Estate board, I want to applaud Minister Orazietti and Minister McMeekin for doing the right thing for all of Ontario’s home owners.”

“This is a huge win for Ontario’s home owners and those who dream of one day owning a
home. It reaffirms that the Municipal Land Transfer Tax is a bad revenue tool, not just outside
Toronto but in it as well,” said Patricia Verge, president of the Ontario Real Estate Association
(OREA). “On behalf of OREA, I want to thank Minister McMeekin for his leadership on this issue and for standing up for Ontarians who said, by the thousands, that this is not a fair or equitable tax.”

During Question Period, McMeekin declared: “I was pleased to communicate our government’s position today, that other than in Toronto, where the power already exists, our government will not be extending Municipal Land Transfer Tax powers to other Ontario municipalities.”

The Sault Ste Marie Real Estate Board had recently sent a delegation to Toronto to meet with
local members of Provincial Parliament to lobby against this tax on behalf local current and
future home owners. OREA, in partnership with the Sault Ste Marie Real Estate Board, led a five-week campaign called ‘Don’t Tax My Dream’ (www.donttaxmydream.ca) that saw Realtors and 32,000 members of the public voice their opposition to the spread of the Municipal Land Transfer Tax province wide.