MEDIA CENTRE

Sample of Actual Comments from REALTORS® and the Public to Mayor and City Councillors
(personal information omitted to protect privacy)

As Canadians we pay some of the highest income taxes in the world and now you want to put Toronto on the map for being the second highest city in North America for land transfer tax. The worst part of it is the taxpayer doesn't get anything in return for it. The average house buyer will pay $8400 tax for nothing!!

Sent by a member of the public to Mayor Miller and City Councillors
July 1, 2007

While we all understand the seriousness of a budget shortfall, we don't all agree that the answer is an overnight cash grab from the hard working folks that are already facing enough struggles to afford home buying…

Sent by a member of the public to Mayor Miller and City Councillors
July 2, 2007

It took me ten years to save for my house. I know that a 100% increase in the provincial home buying tax and an increase in transfer taxes--approximately $4200 more--would have made a huge difference in my ability to buy. I would not have been able to afford my house today and I don’t think I would have been living downtown.

Sent by a member of the public to City Councillor
June 29, 2007

…the extra costs involved have made it impossible for me to afford purchasing a home on my own. I believe this new home-buying tax to be extremely unfair for every hard-working Torontonian struggling to live in an already expensive city.

Sent by a member of the public to Mayor Miller and City Councillors
June 28, 2007

I have a growing family and this increased tax will require my wife and I to reconsider our options with respect to buying a larger home.

Sent by a member of the public to Mayor Miller and City Councillors
June 28, 2007

As an investor, renovator, and parent of three children preparing to enter the real estate market, I strongly object to the Toronto Home Buying Tax. With interest rates threatening to rise, not only would this tax put a number of new buyers out of the market, it would stop a lot of new buyers from putting that "lost" money into outside improvements of their new home thereby affecting property values for other taxpayers.

Sent by a member of the public to Mayor Miller and City Councillors
June 28, 2007

My husband and I have been trying to save for a home for the last 10 years. We have finally saved enough for a down payment next year. By implementing this tax, you are pulling us further and further away from reaching our goal.

Sent by a member of the public to Mayor Miller and City Councillors
June 27, 2007

Toronto housing is already almost unobtainable, especially for young graduates like myself. I am very concerned with the potential social and economical impact …

Sent by a member of the PUBLIC to Mayor David Miller and local Councillor
April 23 and 25, 2007

It is very expensive to move in to Toronto at this time. Adding a tax, which must be added on to the cost of the home for those who have mortgages, becomes additionally expensive when amortized over 25 years.

Sent by a member of the PUBLIC to Mayor David Miller
April 23, 2007

As a recent first-time homebuyer, I must tell you I can't imagine having an additional tax to contend with during the closing period. As it was, my husband and I saved for years before we were able to break into the Toronto market. Now, with the advent of another tax, we have a new worry: that our hefty investment will be sourly devalued (when compared with other markets like Markham) when it comes time to sell the property.

Sent by a member of the PUBLIC to local Councillor
April 16, 2007

“I have been looking in the downtown area for the last six months for a condo. I am extremely upset about the thought of increasing or adding a second tax to Toronto home owners….now I am seriously considering staying in the town that I currently live in…”

Sent by a member of the PUBLIC to Mayor David Miller
March 30, 2007

“There are so many young families who cannot afford to own their own home now…not only because of the down payment but the expenses involved in closing the transaction. I really and truly do believe this would be a mistake.”

Sent by a member of the PUBLIC to Mayor David Miller
March 29, 2007

“As it is, when people start adding up all of the costs they need to incur to move (current land transfer tax, CMHC fees, and all of the other costs), they sometimes decide it isn’t worth it even now. With an additional cost it will make it even harder for people to do what is best for their families.”

Sent by a REALTOR® to Mayor David Miller and local Councillor
March 29, 2007

“This tax will hurt those that can least afford it – the ones that are already borderline for home ownership and then together with the hike in property taxes it will put home ownership out of reach for so many.”

Sent by a REALTOR® to Mayor David Miller and local Councillor
March 28, 2007

“I think that it will indeed affect present homeowners, in that buyers will be looking elsewhere to buy their properties. In fact, it could well affect values throughout the City of Toronto in an extremely negative way.”

Sent by a REALTOR® to Mayor David Miller
March 26, 2007

“I do not think that second land transfer tax is the answer. It will have a dampening effect on the local real estate market, and will drive even more people into the 905 region, making traffic congestion and its attendant pollution even worse than it is today.”

Sent by a REALTOR® to Mayor David Miller
March 26, 2007


“This ill-timed and ill-considered form of taxation will only serve to stunt growth, and demoralize home buyers and sellers….So often policy is made based on past and existing circumstances, and by the time the full impact is felt the damage is done.”

Sent by a REALTOR® to Mayor David Miller
March 25, 2007