Stop the Double Tax: Say No to the Municipal Land Transfer Tax in Hamilton
Hamilton is facing a pivotal moment in its housing market and taxation policies. On Wednesday, January 15th, Hamilton City Council will review a staff report proposing the introduction of a Municipal Land Transfer Tax (MLTT). This tax would be modeled after Toronto’s MLTT and could double the burden on homebuyers by requiring an additional tax on top of the existing provincial Land Transfer Tax (LTT).
Here’s why this matters and how you can take action to prevent this double tax from affecting Hamilton’s housing market.
What Is the Municipal Land Transfer Tax?
A Land Transfer Tax (LTT) is a tax levied on property buyers at the time of closing. In Ontario, buyers currently pay a provincial LTT. Toronto is the only municipality permitted to levy an additional municipal LTT, effectively doubling the tax burden for homebuyers.
If Hamilton follows Toronto’s model, buyers would face significant financial strain. For example, on a $750,000 home:
- Provincial LTT: $11,475
- Municipal LTT: $11,475
- Total LTT: $22,950
This could make homeownership less accessible, particularly for first-time buyers, families, and those with limited budgets.
Why Hamilton Should Say No to an MLTT
Hamilton’s housing market has already seen rising prices, making it difficult for many families to afford homes. Adding a municipal LTT would exacerbate the issue, creating several negative consequences:
- Increased Costs for Homebuyers
Doubling the land transfer tax means buyers would need significantly more money at the time of closing. This added expense could deter prospective buyers and make it harder for families to achieve their dream of homeownership. - Impact on Hamilton’s Housing Market
High transaction costs could slow down the real estate market, reducing home sales and potentially decreasing property values. A less active market could hurt not only buyers but also sellers and local businesses that rely on the housing sector. - Unfair Burden on Families and First-Time Buyers
Families and first-time buyers, already struggling with high prices and limited inventory, would bear the brunt of this tax. For many, the dream of owning a home in Hamilton would become even more unattainable. - Economic Ripple Effects
The real estate industry supports numerous jobs in Hamilton, including agents, contractors, and service providers. A decline in market activity caused by the MLTT could lead to job losses and reduced economic growth.
How You Can Help Stop the Double Tax
The good news is that there are several ways you can take action to oppose the Municipal Land Transfer Tax in Hamilton.
1. Sign the Petition
Add your voice to the growing opposition by signing the petition against the MLTT. Share it widely with friends, family, and colleagues to amplify its impact.
2. Contact Your Local Ward Councillor
Let your councillor know that you oppose the MLTT. Encourage your family, friends, and clients to send letters as well. A simple message can make a big difference.
3. Submit a Written Delegation
Submitting a written delegation is an easy and effective way to express your concerns. Use the provided template and email it to clerk@hamilton.ca before noon on Tuesday, January 14th.
4. Fill the Chambers on January 15th
Show your support in person by attending the City Council meeting on Wednesday, January 15th, at 9:30 a.m. at City Hall. Filling every seat will send a powerful message of opposition.
5. Share on Social Media
Spread the word by sharing social media posts about the MLTT. Be sure to tag your local ward councillor to ensure they hear the concerns of their constituents.
What’s Next?
In addition to reviewing the staff report, City Council will hear from stakeholders, including Cornerstone Chair Julie Sergi and Abacus Data, which will present opinion polling data on Hamilton’s housing market and public sentiment toward the MLTT.
This data will shed light on how Hamiltonians view this proposed tax and its potential impact. Keep an eye out for the official press release next week for more insights and updates.
Why Your Voice Matters
Decisions like these have long-lasting impacts on communities. By standing up against the MLTT, you’re helping to protect Hamilton’s housing market, support families, and preserve the dream of homeownership for future generations.
Let’s make it clear to Hamilton City Council that an MLTT is not the answer. Together, we can stop this double tax and advocate for fairer, more effective solutions to address the city’s financial needs.
Take Action Today
Every action counts in the fight against the Municipal Land Transfer Tax. Start by signing the petition, contacting your councillor, and attending the January 15th meeting. Together, we can ensure Hamilton remains an affordable and welcoming place to call home.
