Torontonians aren’t a happy bunch when it comes to Mayor Rob Ford. His election platform included a promise to eliminate the City of Toronto’s Land Transfer Tax, which adds a hugely expensive additional cost when puchasing a property in the city. It doesn’t appear the tax will be eliminated any time soon, which has left locals seething. Even though Torontonians acknowledge that the City can’t afford to lose the income stream the tax generates, we all still feel a promise is a promise. In this country, to not honour your promise is distinctly un-Canadian.
Here’s a recent article just published in PropertyWire.ca that includes my own insight on how it is complicating the dynamics of our housing market. Click HERE to see my latest press!
Fab Photo: Brett Gundlock National Post
Word On The Street