Menkes festival condo. Toronto levies a speculative tax on housing! At a meeting scheduled to begin tomorrow, city councillors will finally decide whether the city will formally ask the legislative assembly to implement a local “property speculation and speculation tax”.Please Visit: Menkes festival condo to Get Your VVIP Registration Today!
It is not clear what form the tax will take, but Kohl mentioned the 50% land speculative tax introduced by the Ontario government as early as the 1970s, when Ontario introduced a “speculative tax” to slow the extreme growth of house prices in Toronto.
Mayor Zhuangdeli told reporters at a briefing at the city hall on Tuesday: “if you look at all the policies we have taken to improve housing supply (including comfortable housing), you will find that many of these policies are designed to put the concept of people living first. Although houses also need to be invested, we should have the obligation to let people who do not own houses find housing first. I hope they can afford it as much as possible. So, given the challenges we face, I hope this policy will be a valuable signal. ”
The city’s real estate board has said in the past that there is a need to increase supply to control house prices, but warned in a letter to the Conservative Executive Committee last month that speculative taxes “may mainly affect small-scale married investors. And they happen to be a key source of supply.”
But Kevin Krieger (Kevin Crigger), chairman of the Toronto area Real Estate Board (TRREB), said in the letter: “TRREB firmly believes that public policy towards the real estate market should be based on evidence. In this regard, it is not clear whether the speculative tax on non-major residential sales will have any sustainable benefits to housing affordability and, on the contrary, may have very negative and unintended consequences for homeowners, buyers, and renters. “