Preventing the spread of municipal land transfer taxes (MLTT) is the focus of a new advocacy campaign at the Ontario Real Estate Association.
The association launched the issue-based campaign in April to demonstrate the negative economic impact of the MLTT, based on the findings of new research studies. Currently allowed only in Toronto, this tax may spread to other regions of Ontario. As municipalities seek ways to generate local revenue, they are looking to the province to grant them the authority to charge a municipal land transfer tax on home buyers.
The slogan, “Say no to another home owner tax – don’t tax my dream” conveys to consumers and REALTORS® the campaign’s key message of opposition to the MLTT. During the upcoming provincial and municipal elections, REALTOR® volunteers will also be meeting with local candidates to communicate the campaign’s key messages. As well, a special website has been launched to provide more background information on this issue. News releases, blog posts and newsletter articles will be another key part of the initiative.
The campaign cited research revealing that the tax has had a negative impact on Toronto’s economy and has hurt consumers and the housing market. Specifically, research on the effects of the tax reveals that Toronto has lost 15,000 jobs as a direct result of the MLTT. It also reveals new findings around public opinion on the tax.
OREA is encouraging all real estate agents to share the campaign message with our clients, friends and neighbours. Go to www.donttaxmydream.ca and urge provincial candidates to “say NO to another tax on Ontario home buyers”.