Taxes and Real Estate

So. I wonder is “So.”can be a sentence? Anyways, I have digressed before I began. So, here’s what I want to say. Now, That’s better. Over the next few days,those of you living in the Toronto area will hear both sides of the great tax debate of our lives. The city below Vaughan is planning to increase the land transfer tax and vehicle registration costs.

But all wehearabout is how the land transfer tax will not help alleviate Toronto’s financial woes. In fact, the Toronto Real Estate Board will have all of us beleive that the tax will destroy the home of the Blue Jays. Why? Well, it will increase the cost of buying/selling real estate. Nevermind that Realtors make 5%. God forbid that the City should raise funds to help pay for street repairs, water and hydro repairs, libraries and swimming pools.

You want my opinion? Of course you do. That’s why you’re reading this.

Mr. Miller – be creative. Take some time and think about what you are doing. Control your spending and look for alternative and creative ways to raise funds to help pay for the operation of Leafs Land.

TREB – Increased land transfer tax will not destroy Toronto. It MAY harm your members income though. But, a broke Toronto is not good for your constituents either.

And that’s my take on the issue.