One City. Our City. Let's Get This Right, Toronto.™

Let's Get This Right Toronto.

We are not taxed double on a Cup of Coffee just because we are buying it in Toronto, why should we pay double the Tax, to buy a home in Toronto?


City Hall should be helping people to achieve the dream of home ownership.Torontonians are fair. Our taxes should be too.




The Toronto Land Transfer Tax makes owning a home more difficult. That's no way to build a great City.

Torontonians are fair. Our taxes should be too.

The Toronto Land Transfer Tax makes home buyers pay much more than their fair share. That's no way to build a great City.



Toronto's greatest strength is the people who live here.

The Toronto Land Transfer Tax penalizes residents of Toronto. That's no way to build a great City



Toronto Real Estate Board Looks Forward to Working with New City of Toronto Budget Chief on Phase-Out of Land Transfer Tax

Let's Get This Right Toronto

On behalf of it’s over 36,000 REALTOR® Members, the Toronto Real Estate Board (TREB) congratulates Councillor Frank Di Giorgio on his appointment as Chair of the City of Toronto’s Budget Committee. TREB looks forward to working with Councillor Di Giorgio in this critical position as he moves the City’s agenda forward, especially with regard to fulfilling Mayor Ford’s strong commitment to begin phasing out the Land Transfer Tax.



“We applaud Councillor Di Giorgio for his commitment to the City. The role of Budget Chief is critical to the success of our City. We look forward to working with Councillor Di Giorgio, in his new role, as he works to address the many important budget issues facing our City, especially the negative impacts of the Toronto Land Transfer Tax,” said Ms. Hannah.



TREB recently released the results of public opinion polling, conducted by Ipsos Reid, which found:



Nearly seven in ten Torontonians, 68 per cent, support plans to eliminate the Toronto Land Transfer Tax. This is up from 65 per cent one year ago.

77 per cent of GTA residents planning to purchase a home in the next two years are more likely to purchase outside Toronto specifically to avoid paying the Toronto Land Transfer Tax.

72 per cent oppose municipal land transfer taxes even if this tax was dedicated for spending on transit and infrastructure.

76 per cent of Torontonians who recently paid the LTT feel that they have received little or no added value in municipal services for the amount of LTT that they paid.

“For the buyer of an average detached home in Toronto, the municipal land transfer tax costs about $10,000. It is unfair to expect people like down-sizing seniors, or young growing families who need more space, to pay so much more than their fair share,” said Ms. Hannah.



Research has proven that municipal land transfer taxes have a negative impact on home sales. The C.D. Howe Institute recently released an analysis of the Toronto Land Transfer Tax, which shows that this tax has hurt Toronto’s economy by dampening home sales by 16 per cent. In addition, the Ipsos Reid poll found that 25 per cent of the people who recently purchased a home in Toronto would have spent their land transfer tax money on furnishings or appliances, if they had not had to give it to the City, and 21 per cent would have spent it on renovations.



“Housing sales create jobs because when people move they spend money on things like renovations, movers, appliances, and furnishings. In fact, studies have shown that every resale housing transaction results in over $40,000 of spin-off spending. Every housing sale that is lost as a result of the Toronto land transfer tax risks Toronto jobs,” said Ms. Hannah.



The noted poll results are some of the findings of an Ipsos Reid poll conducted between November 24th and 29th, 2012, on behalf of the Toronto Real Estate Board. For this survey a sample of 1,112 residents of the GTA from Ipsos’ Canadian online panel was interviewed online. Weighting was then employed to balance demographics to ensure that the sample’s composition reflects that of the adult population according to Census data and to provide results approximate the sample universe. The precision of Ipsos online polls are measured using a credibility interval. In this case, the poll is accurate to within +/- 3.4 percentage points of all residents in the GTA region. The credibility interval will be larger for sub-groupings of this population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 36,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.<

Good day!

I thought you might be interested in the following article, giving house selling tips from Dale Ripplinger, President of the Canadian Real Estate Association in 2010, which you can share with your clients.

“Hurrying your real estate agent to your home the minute you decide to sell may not be your best option,” says Dale Ripplinger, president of the Canadian Real Estate Association. “While you should let your REALTOR® know your intentions, it’s best to be better prepared for their first visit to your home.”

So what should you do — and when? According to Mr. Ripplinger, you want to explore the financial implications of selling and then prep your home in order to “sell it”.

Here are his top tips for sellers:

• Talk to your bank. “In some cases, deciding to sell has financial implications because of the terms of your mortgage,” says Mr. Ripplinger. “For instance, you may have a payout penalty.” That’s good to know in order to assess how much a move will cost you.

• Do the little fixes. Before you first meet with an agent get the little fixes done around your home. “A thorough cleaning, touch ups and de-cluttering should be done before a real estate agent visits your house,” he says. “This helps create a better first impression for the agent so he or she can get a better idea of what bigger fixes are necessary in order to get the best price for your home.”

• Do the big fixes — with your agent’s advice. Costly upgrades or renovations may seem like a good idea because they make sense for you and your family. But do they make sense for the market? “Some expensive upgrades or renovations actually provide limited payback,” advises Mr. Ripplinger. “Your REALTOR® will be able to advise you on what repairs are mandatory, which ones will add value and which ones will be a waste of time and money. It all depends on the market, your neighbourhood and the buyer you’re trying to attract.”

Expert tip: Your real estate agent will also be able to put you in touch with qualified professionals who have a good reputation for getting the work done right. “Since your agent has built relationships with renovation professionals and trades people, you may be able to get the work done sooner than usual,” says Mr. Ripplinger.

• Work on solving the pricing puzzle. “Homeowners usually have a pretty good handle on what their home is worth,” he says. “However, some tend to underestimate how long it will take to sell their home at that price.” Part of the pricing puzzle involves how long you’re willing to have your home sit on the market. In some cases, homeowners have a specific closing date in mind — for example, those moving to another city for work — and don’t have the luxury of being patient. All of these factors will come into play when the asking price is decided on.

• Estimate your expenses. Take the time to figure out your cost estimates. “Once you know what renovations or upgrades are necessary and any mortgage implications, tally up the rest of your expenses,” advises Mr. Ripplinger. For example, consider your agent’s commission, legal fees, land titles or land registration fees and any other fees that are specific to your province.

Expert tip: “A professional stager may be needed to present the house to buyers properly,” he says. “We’re finding that it can make a big difference in how quickly a house is sold and for how much.”

Having these steps in place will help you get the best possible price for your home, help sell it within your desired timeline and ensure you aren’t faced with any financial surprises when you and the buyer sign the dotted line.

Any questions?

Contact Lisa Portolese, Salesperson
Royal LePage Kingsbury Realty, Brokerage
Bus (905) 568-2121 Direct at (416) 953-9714