Motion to study MLTT in Hamilton – DEFEATED!
OREA is happy to report that on July 8th the City of Hamilton’s Audit, Finance and Administration Committee strongly rejected a motion by Councillor Aidan Johnson (5-1) that if passed, and ratified by Council, would have called for city staff to examine the feasibility of a municipal land transfer tax (MLTT) in Hamilton.
The fact that the motion was defeated means the issue will not be referred to the broader city council. This means that even if the province gives municipalities the ability to levy an MLTT it is unlikely Hamilton would implement the tax in the near future.
This is a huge win for Hamilton REALTORS® and OREA’s ongoing efforts to stop the spread of the municipal land transfer tax.
A special thanks to the REALTORS® Association of Hamilton-Burlington for all their hard work on this issue and helping organize a strong REALTOR® presence at Hamilton City Hall.