A survey conducted by the Ontario Real Estate Association found that the majority of people see the Toronto municipal land transfer tax (MLTT) as a barrier to home ownership.

The poll, conducted along with Ipsos Reid, found that seven in 10 see the tax as limiting their ability to afford a home, and 67 per cent of respondents report that the Toronto MLTT would impact their decision to move within city limits.

Toronto is the only municipality in Ontario that charges a land transfer tax on top of the provincial land transfer tax.

“This research proves that the MLTT is doing more harm than good where our economy is concerned,” says OREA president Costa Poulopoulos “It gets in the way of the economic spin-off that occurs when homes are purchased and sold.  It should be repealed in Toronto and it should never be endorsed by the provincial government for any other municipality in this province.”

Outside of Toronto, more than eight in 10 (84 per cent) of Ontarians oppose the implementation of a municipal land transfer tax in their region.