Tag: land transfer tax
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Toronto Hikes Luxury Land Transfer Tax: What Buyers Need to Know
Overview: A New Land Transfer Tax on High-End Homes Toronto City Council has approved a measure to increase the Municipal Land Transfer Tax (MLTT) on residential property sales priced above $3 million. The move targets the luxury housing segment to generate additional revenue for city services without relying on a broader tax hike. Under the…
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Toronto to Hike Land Transfer Tax on Luxury Homes: What Buyers Need to Know
Overview of the Tax Change Toronto City Council has approved a plan to increase the Municipal Land Transfer Tax (MLTT) on luxury home sales, targeting properties priced above $3 million. The new rules, part of the city’s broader revenue-raising measures, would see buyers of homes valued between $3 million and $4 million pay an MLTT…
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Toronto Hikes on Luxury Home Land Transfer Tax: What Buyers Need to Know
What’s changing Toronto City Council has approved a policy change that increases the Municipal Land Transfer Tax (MLTT) for home purchases exceeding $3 million. The move is aimed at boosting municipal revenue and aligning property taxes with a growing real estate market. For buyers looking at luxury properties in the $3 million to $4 million…