On June 4, the Toronto Real Estate Board (TREB) launched a campaign aimed at repealing the Toronto Land Transfer Tax (LTT) – a municipal tax that people purchasing homes in Toronto must pay in addition to the provincial portion of the tax.
A recent poll conducted by Ipsos Reid, demonstrated that 66% of Toronto residents support plans to revoke the tax. It also found that 75% of Torontonians and the residents of 905 regions who are expecting to move in the next two years are more likely to move outside of Toronto specifically because of the Toronto LTT.
In addition, another ward-by-ward poll conducted by Ekos Research found that 86 % of city wards (38 of 44) want to see the Toronto LTT repealed.
TREB offers a variety of resources through which the public can engage in the campaign. For example, its www.LetsGetThisRightToronto.ca is a new, easy to navigate and educational website where citizens can send in their views directly to their city councillor, become more informed on this issue, and encourage others to speak out. The campaign also includes advertising, social media, and other tools that will help REALTORS® and Torontonians bring a clear message to the Toronto City Council.