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Official Opposition Pressure Causes Liberals to Back Down on Municipal Land Transfer Tax
December 1, 2015
(Queens Park)- Chatham-Kent-Essex, MPP Rick Nicholls is delighted that his party succeeded in pressuring the Minister of Municipal Affairs and Housing, Ted McMeekin to rescind the governments` notion to double the Municipal Land Transfer Tax (MLTT) which would have affected all Ontario families purchasing a home.
While a provincial land transfer tax is already collected when a home is purchased, the doubling of the MLTT, (which has been in effect for some time in Toronto) would have given municipalities across the province the option to charge all homebuyers an additional tax.
Nicholls added, “This would have meant homebuyers in the Chatham-Kent-Essex area would have been subject to an additional tax of $1,700 based on an average home purchase of $160,000.”
His colleague, MPP Steve Clark (Leeds-Grenville) deserves credit for leading the charge to help defeat the Liberal governments` plan to double the home ownership tax across Ontario.
“I also applaud my fellow colleague, MPP Steve Clark on our victory today,” Nicholls said.
Earlier last week, Nicholls had met with and commended a delegation from the Chatham-Kent Real Estate Board on their efforts for bringing forth local concerns and highlighting the negative impact that such a Bill, if passed, would have had on the local economy.
