I have read about the recent reports that York Region Council is eying implementing a land transfer tax similar to Toronto’s. I can say without a doubt that I am fully against this new tax. Yes. Municipalities desperately need funds to deal with the literally billions of dollars worth of infrastructure deficits that they are dealing with but I don’t believe that adding to the tax burden of people looking to buy a home is the way to do it. Taking even more money out of our pockets is not good policy. Especially given that it hits new homeowners the hardest; those folks who are already struggling to buy their first homes. It doesn’t make sense to me to make it even harder for someone to buy a home by adding yet another tax.
The solution to our infrastructure deficit isn’t going to be found in the pockets of new homeowners. Its going to take all levels of government working together to come up with meaningful solutions to address this province wide issue.
