Vic Fedeli says the Wynne Liberals are creating a trap for towns and cities by trying to introduce a local land transfer tax. Right now the tax only exists at the provincial level and we pay it when buying a home.
But Fedeli says giving municipalities the power to apply the tax locally doubles what we pay. He says this is the wrong approach. The Tory MPP says rather than cutting expenses and trimming costs, the Liberals want towns and cities to spend much more.
Fedeli also says this new tax could be the straw that breaks the camel’s back when it comes to home ownership. He believes the addiiotnal levy will put a home out of reach for many people.
Many real estate associations are making the same claim. Also, one northern mayor has weighed in on the issue so far.
Mayor Christian Provenzano of Sault Ste. Marie opposes the move because he says the tax makes it more expensive to buy a home. If the legislation passes, municipalities are expected to have the option to collect the local tax or not.