I Heard Mayor Ford’s Finally Keeping His Campaign Promise to Abolish the Toronto Land Transfer Tax. Is That True?

Ask me anything. Anything at all. And I promise you an honest, straightforward answer. I’m here to help and I’m happy to do so. Don’t be shy because there’s no such thing as a stupid question. If you haven’t been selling real estate every day for the past 20+ years like I have, no one expects you to have all the answers. But you SHOULD know as much as possible because there’s a lot of money involved, your money, and because we’re talking about your home, the place where you spend most of your time. This recurring blog post is dedicated to answering any questions you may have, big or small, easy or hard, no matter who you are. So go ahead. Ask me anything. Here is my answer:

I Heard Mayor Ford’s Finally Keeping his Campaign Promise to Abolish the Toronto Land Transfer Tax. Is That True?

I certainly heard the promise loud and clear, but I haven’t heard that it’s being abolished. What I did hear is that the City’s important Executive Committee has decided to take the first step towards phasing out the Toronto Land Transfer Tax by formally asking the City’s Budget Committee to consider phase-out options as part of the City’s budget setting process for 2014. Things seem to be moving in the right direction, but they still have a ways to go before the tax is abolished. Keep your fingers crossed!