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Council passes motion urging Ontario to raise first-time homebuyer tax rebate threshold.
South Stormont councillor Andrew Guindon has introduced a motion urging the Ontario government to raise the land transfer tax rebate threshold for first-time homebuyers from $368,000 to $675,000 to keep pace with rising home prices.
The motion passed unanimously and aims to ease the financial barrier of upfront taxes, particularly for those buying resale homes.
Council plans to seek support from other municipalities to advocate for this change amid the ongoing housing affordability crisis.
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El Consejo aprueba una moción instando a Ontario a elevar el umbral de reembolso de impuestos para compradores de vivienda por primera vez.