The Toronto Land Transfer Tax adds thousands of dollars to the cost of purchasing a home in Toronto, something that is putting homeownership out of reach for many people – including first-time home buyers.
A new poll by the Toronto Real Estate Board that surveyed about 9,500 Torontonians has found that the majority of Toronto wards (86 per cent, or 38 wards out of 44) wants the Toronto Land Transfer Tax repealed.
A few statistics from the poll:
In most wards where councillors have opposed the repeal of the Toronto Land Transfer Tax, most residents support the repeal.
In 39 of 44 wards (89 per cent), more than half of the residents were more likely to vote for their councillor if they were to vote for a repeal of the Toronto Land Transfer Tax.
In 36 of 44 wards (86 per cent) more than half of the residents support the repeal of the Toronto Land Transfer Tax.
“Clearly, if city councillors respect the wishes of their constituents, repeal of the Toronto Land Transfer Tax would be easily approved by Toronto city council,” said the president of the Toronto Real Estate Board, Richard Silver. “City councillors should listen to their constituents on the issue,” he said.
According to the Toronto Real Estate Board’s chief government and public affairs officer, Von Palmer, “There have been a lot of polls showing strong city-wide public support for the repeal of the Toronto land Transfer Tax, but this poll is the first one that took a closer look at public opinion on a ward-by-ward basis. No matter how you look at it, public opposition to the Toronto land Transfer Tax is strong,” he said.
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