Lack of land transfer tax makes homes more affordable in two provinces

Additional closing costs like the land title registry and mortgage registration — about a few hundred dollars each — and legal fees — about $1,500 to $2,000 — are relatively similar across the nation and do not have much impact on buyers, Mitchell says.Article content

“When people move into new homes, they spend an average of about $40,000 more” on renovations and furniture, Mitchell says. With buyers paying thousands of dollars in taxes on a home purchase, they inevitably have less to spend on these items.“It’s billions of dollars in revenue in British Columbia or Ontario,” he says.

Taxes on taxes and then the government talks about affordability

Yes! That fee should’ve been cut years ago.

BC's GDP is real estate. I can't lie to you about your chances of losing the transfer tax, but... you have my sympathies.

Would be nice to get rid of!! We all taxes come on they don't go away

Ever see a government stop a tax that brings them millions of dollars?

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