Today MPP Tim Hudak congratulated local real estate agents, homebuilders, Niagara Regional Council and his colleague, MPP Steve Clark, for their hard work fighting against a planned Liberal government Municipal Land Transfer Tax.
The Liberal government announced today it will not extend the land transfer tax option to local municipalities across the region, an idea that was heavily criticized by industry professionals for the added costs it would bring to home ownership. The Municipal Land Transfer Tax would have added $10,000 to the price of an average home. That additional cost would have stalled new home purchases and slowed the economy.
“The input provided by real estate agents and homebuilders demonstrated the tax threatens to increase the cost of home ownership province wide and would price many low and middle income Ontarians out of the real estate market entirely, while actually slowing down our economy,” said Hudak.Hudak added Niagara Regional Council speaking out against the tax highlighted it was a bad decision that would actually harm municipal economies.
“As Leader of the Opposition, I was always opposed to a Municipal Land Transfer Tax, so I am glad to see the government is listening to the experts and scrapped this tax grab,” said Hudak.Hudak credited Leeds Grenville MPP Steve Clark who tabled a motion asking the Liberals not to extend the Municipal Land Transfer Tax.
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