News Releases
Potential Municipal Land Transfer Tax Hike Could Reduce Supply and Affordability of Modest Toronto Homes
The Toronto Regional Real Estate Board (TRREB) is raising concerns about the potential for City Council to increase the Municipal Land Transfer Tax (MLTT) when it meets next week to approve the City’s 2021 Budget. TRREB’s concerns focus on the potential for the tax increase to further constrain the supply of homes for sale in Toronto, thereby exacerbating housing supply and affordability challenges, especially for those purchasing modest homes.
