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No Minimum
1 Bedrooms or more
2 Bedrooms or more
3 Bedrooms or more
4 Bedrooms or more
5 Bedrooms or more
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8 Bedrooms or more
No Maximum
1 Bedrooms or less
2 Bedrooms or less
3 Bedrooms or less
4 Bedrooms or less
5 Bedrooms or less
6 Bedrooms or less
7 Bedrooms or less
8 Bedrooms or less
No Minimum
1 Bathrooms or more
2 Bathrooms or more
3 Bathrooms or more
4 Bathrooms or more
5 Bathrooms or more
6 Bathrooms or more
7 Bathrooms or more
8 Bathrooms or more
No Maximum
1 Bathrooms or less
2 Bathrooms or less
3 Bathrooms or less
4 Bathrooms or less
5 Bathrooms or less
6 Bathrooms or less
7 Bathrooms or less
8 Bathrooms or less
No Minimum
$100k or more
$125k or more
$150k or more
$175k or more
$200k or more
$225k or more
$250k or more
$275k or more
$300k or more
$325k or more
$350k or more
$375k or more
$400k or more
$425k or more
$450k or more
$475k or more
$500k or more
$550k or more
$600k or more
$650k or more
$700k or more
$750k or more
$800k or more
$850k or more
$900k or more
$950k or more
$1.00m or more
$1.10m or more
$1.20m or more
$1.30m or more
$1.40m or more
$1.50m or more
$1.75m or more
$2.00m or more
$2.50m or more
$3.00m or more
$3.50m or more
$4.00m or more
$4.50m or more
$5.00m or more
No Maximum
$100k or less
$125k or less
$150k or less
$175k or less
$200k or less
$225k or less
$250k or less
$275k or less
$300k or less
$325k or less
$350k or less
$375k or less
$400k or less
$425k or less
$450k or less
$475k or less
$500k or less
$550k or less
$600k or less
$650k or less
$700k or less
$750k or less
$800k or less
$850k or less
$900k or less
$950k or less
$1.00m or less
$1.10m or less
$1.20m or less
$1.30m or less
$1.40m or less
$1.50m or less
$1.75m or less
$2.00m or less
$2.50m or less
$3.00m or less
$3.50m or less
$4.00m or less
$4.50m or less
$5.00m or less
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Toronto Land Transfer Tax


Name one thing Canadians love to gripe about (aside from the weather). 

You got it !!.... taxes.  Compared to our US  neighbours , we pay a premium in taxes, however paying an additional 13% on a T-shirt is nothing like taxes in Real Estate.  In every Real Estate transaction , the Buyer is required to pay Land Transfer Tax, which in Ontario can be up to 2% for any property  that contains one or two single family residences above $400,000. So you can imagine how Torontonians felt in 2008 when the city of Toronto Council approved a new Municipal Land Transfer Tax that is be applied to purchases on all properties in the city of Toronto in addition to the Province's Land Transfer Tax. (commonly referred to as Double Land Transfer tax) . Initially, this new law resulted in an enormous drop in sales (27% in comparison to 2007 sales)  , with TREB claiming that Studies have found that the Land Transfer Tax is directly responsible for dampening Toronto home sales by 16% per year since the implementation of this tax.  That being said, many Torontonians choose to remain to live and invest in the city and pay the piper to do so , showing how much urban living is coveted and how desirable Toronto living is. But when the mayor uses the pipe to smoke crack, resulting in a demise in his popularity with voters as well as his health a new election occurs, why would this item not be number one on every voter's agenda? 

Olivia Chow wanted to Increase the land-transfer tax by one percentage point on homes that sell for more than $2-million, to raise $20-million, while Ford  wanted to Roll back the land-transfer tax by 15 per cent annually over the next four years. John Tory's platform was ,and is , to maintain the existing land transfer tax.

 And who won the election ?

 John Tory of course! 

Tory claims that he does not have any plans to change the land transfer tax, which brought in $357 million in 2013 until an alternate strategy to "balance the books" is found. 

 So what does this vote mean? 

Does this suggest that despite the  loss of $2.3 billion in economic activity, the Reduction of $1.2 billion in GDP, the loss of 14,934 jobs and the loss of $772 million in wages and salaries, that Torontonians are OK with paying double land transfer tax? Have the fumes spread and influenced the votes? Are Torontonians on crack?

Quite the contrary.....

The true reason for John Tory winning the election is that due to  the conservative nature of Canadians, they  have had enough for Fordnation and its Three Ring Circus and craved the political stability that the Tory vote ensured. 

No more crack and illicit drug scandals. 

No more drunken rants in patois or in any other language . 

No more strippers (well some things may never change). 

The public has spoken. Stability has triumphed over volatility despite the effects on Real Estate in the Toronto Market and the cost to voters. 

Enough said. 

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Sales Representative
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samkamra@yahoo.com

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The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial or any other purpose. Information is deemed reliable but is not guaranteed accurate by TREB or Real Estate Bay Realty.