Toronto Condos

The Toronto Real Estate Board would like Toronto City Hall to suspend and ultimately repeal the controversial the Land-Transfer tax on the purchase of a home.

 A spokesman for the Toronto Real Estate Board said that due to the economic slowdown  the land-transfer tax is not helping the current Market.

 Last week the Real Estate Board reported 1,106 January home sales , down from 2,128 sales in January 2008.

"..a new land transfer tax remains a punitive policy that arbitrarily forces certain Torontarians-Home-Buyers- to shoulder the load by paying thousands of extra dollars. It is both unfair and economically short-sighted, increasing the risk that the city's thriving real estate market might crash..Globe and Mail Editorial Oct 24, 2007.

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