Realtors in the area are banding together against a newly proposed property tax. The Ontario government may soon be offering municipalities the ability to charge a land transfer tax on new property purchases. President of the Lakelands Association of Realtors, Tom Wilkinson, says this tax is expected to be paid from the buyers’ pocket, and that could have a negative ripple effect on other industries.
While municipalities may benefit from this tax, Wilkinson says it could prevent homes from being sold due to the excessive amount a buyer would have to pay. He asks that anyone opposed to this proposal should contact their local MPP.