land transfer tax

The county could move to reinstate the land transfer tax, or increase property taxes, but both options carry great political risk.

Those same Republicans immediately repealed one of the taxes they had enacted, a land transfer tax, blasting a $60 million hole in the 2000 budget.

These costs include search costs, real estate fees, moving costs, legal fees, land transfer taxes, and deed registration fees.

While Grimes was generally opposed to initiatives supported by Mayor David Miller, he became a key player in getting the land transfer tax passed in 2007.

The second is a land transfer tax levied on the sale price of properties everywhere except Alberta, Saskatchewan and rural Nova Scotia.

The unexpected repeal of the land transfer tax, which the Republicans voted last week at a hastily called emergency session, means the loss of an estimated $60 million in revenue.

Reliable sources of funding can be created by such devices as a bond issue or a land transfer tax (for which the Town of Brookhaven is seeking state enabling legislation).

The Sun also reported that she sees eye-to-eye with Mayor Rob Ford on several of his campaign pledges including cutting the personal vehicle tax and the land transfer tax.

He later drew attention to the initial transfer of ownership for the Eaton's building, which was permitted on a sworn value of $10 and resulted in the non-payment of a provincial land transfer tax.

Campaign promises include repealing the vehicle registration tax, repealing the land transfer tax, making the Toronto Transit Commission an essential service, and working to cut the number of councillors on city council by half.

Among his campaign promises, he said that he would repeal the vehicle registration and land transfer taxes implemented during the term of mayor David Miller, and make the Toronto Transit Commission (TTC) an essential service.

It singled out the loss of a $60 million land transfer tax that the old, Republican-controlled County Legislature enacted last year to balance the budget but then repealed after losing its majority on the Legislature to the Democrats in November.

Wong-Tam, in a post-election interview with the Toronto Sun, says that she is "really looking forward to working with the Mayor" and that she supports Mayor Rob Ford's campaign pledge to scrap the personal vehicle tax and the land transfer tax.

Mr. Gulotta, a Republican, had been expected to veto the repeal of the land transfer tax, which he had promoted as a means of solving the county's fiscal crisis but which Republican leaders blamed for their loss of control of the Legislature at the polls this month.

"If the county were to repeal the land transfer tax," said Diane Brosen, the director of public finance ratings at Standard & Poor's, "the repeal would leave a hole in the fiscal 2000 budget which the county would have to close by either raising revenues or cutting spending to ensure a balanced budget."