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A builder's take on Toronto's taxes

A top official of Daniels Corporation, a big Toronto-area condo and home builder, was among those who showed up at city hall last week to back the mayor's campaign for new taxes. "If we don't have proper city amenities like transit and other factors for a sustainable city, then people aren't going to want to buy condos irrespective of whatever tax they pay," said Niall Haggart, vice-president of Daniels.

Haggart conceded that no one likes more taxes, such as the mayor's proposal for a land transfer tax that would bring in $300-million a year. But, he said, "we all have to face up to reality. "Was I having a big problem with the land transfer tax?" he asked. "I was not."

That view is at sharp odds with the Toronto Real Estate Board and other anti-tax business groups poised for round two of the fight.

For all the talk of taxes in Toronto, Mr. Haggart said, the news media are paying scant attention to tax issues outside the city.

In Mississauga, for example, the city charges development fees of $14,000 for one or two bedroom units (a cost passed on to buyers), compared to less than half that rate in Toronto. As well, he says, the region of Peel is proposing a 79-per-cent hike in development charges to $15,000, up from $8,500 currently.

"Where are all the media?" he asked. "Where is the press?"

September 17, 2007 in Toronto Real Estate Taxes | Permalink

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Comments

I would like your opinion on a re business i just started! Its at buyahousewithme.com thanks

Posted by: mo | Sep 18, 2007 5:13:38 AM

Interesting post.

Posted by: Buy Property in Bulgaria | Sep 17, 2007 12:11:09 PM

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