The Minister of Municipal Affairs recently announced that home buyers across the province will no longer have to worry about an additional land transfer tax.
Right now Toronto is the only municipality that has municipal land transfer tax powers, but communities outside the GTA have been pushing the government to be able to do the same.
This is good news for anyone looking to buy a house in the province because a second land transfer tax would forced home buyers to pay up to $10,000. This announcement follows the recent commitment from the government to double land transfer tax rebates for first time home owners from $2,000 to $4,000.
Temiskaming-Cochrane MPP John Vanthof says while this is good news for young families, he adds its likely not enough to make a significant difference in whether or not you can afford to buy a house or not.
