ptt: TransLink Nixes more Property Transfer Taxes; Phew… - 08/30/09 11:22 AM
When the City of Toronto implemented a Land Transfer Tax (LTT) as a way to address a revenue shortfall, instead of bringing in revenue, the LTT did the opposite.
An estimated 3,500 families who would have otherwise moved, stayed put because of the LTT, according to a report from the C.D. Howe Institute and economics professors at the University of Toronto, and data from the Toronto Real Estate Board.
Those 3,500 fewer home sales cost the Toronto economy $166 million in 2008, since every time a home changes hands in Toronto the transaction generates $47,575 in economic spin-offs in furniture and … (2 comments)

 
John Grasty, Your Tri-cities REALTOR, neighbour and volunteer. (for real estate results in the Tri-Cities.)

John Grasty

Your Tri-cities REALTOR, neighbour and volunteer.

Port Moody, BC

More about me…

for real estate results in the Tri-Cities.

Address: 3137 St. Johns St, (Coquitlam-Port Moody-Port Coquitlam Real Estate), Port Moody, BC, V3H 2C8

Office: (604) 421-1010

Mobile: (778) 878-0778

(formerly the Adoxographist's Blog) ...skilled writing about an unimportant subject, or is that unskilled writing about an important subject? Well I don't know so as things unfold please judge for yourself... ...don't forget to leave a comment, and thanks for visiting. John Grasty is a REALTOR® serving the Tri-Cities (Coquitlam - Port Coquitlam - Port Moody) real estate market. Please check out John's website: http://www.RealEstateEvolved.com


Listings

Links

Archives

RSS 2.0 Feed for this blog