TORONTO, ONTARIO--(Marketwire - June 5, 2012) - In light of new, concerning, public opinion polling results that show significant numbers of Toronto residents planning to leave the City when they move, Toronto REALTORS® are launching a multi-faceted campaign, including a new web site (www.LetsGetThisRightToronto.ca), advertising, social media, and other tools, to help Torontonians tell City Council that they want the Toronto Land Transfer Tax repealed, so that Toronto can reach its full potential as a world class City.
"Toronto's greatest strength is the people who choose to make this City their home. We can't make Toronto a world class City by pushing people away, but that's exactly what the Toronto Land Transfer Tax is doing. Together, we can build a great city, but we need to get this right," said Richard Silver, President of the Toronto Real Estate Board (TREB).
A recent poll conducted by Ipsos Reid, found that 25 percent of Torontonians expecting to move in the next two years are planning to leave Toronto for the 905 regions. In contrast, only three percent of 905 residents expecting to move in the next two years are planning to come to Toronto. Looking at the cause of this trend, the poll also found important links to the Toronto Land Transfer Tax, with 75% of people in Toronto and the 905 regions who are expecting to move in the next two years saying that they are more likely to move outside of Toronto specifically because of the Toronto Land Transfer Tax. Among the other findings of the poll were:
- 66% of Torontonians support plans to repeal the Toronto Land Transfer Tax;
- 77% of Torontonians who recently purchased a home in Toronto feel that they received little or no added value in City services for the amount of Land Transfer Tax paid;
- A third of first-time buyers indicated that they had to pay some Land Transfer Tax to the City, notwithstanding City rebates.
"This campaign is about allowing our City to reach its full potential. The Toronto Land Transfer Tax is no way to build a great City. It creates inequality among our residents; it perpetuates irresponsible City budgeting; it threatens jobs; it makes our City less affordable; it makes City Hall less accountable; it hurts our environment; and it makes our roads even busier. We look forward to highlighting these issues and impacts as our campaign progresses," said Von Palmer, TREB's Chief Government and Public Affairs Officer.
REALTORS® are planning to do what it takes to ensure that City Council hears the public's voice on this issue. With this in mind, TREB has launched www.LetsGetThisRightToronto.ca, which gives the public numerous ways to get involved in the campaign. The web site allows the public to easily send in their views directly to their City Councillor, become more informed on this issue, and encourage others to speak out also. In addition, TREB is planning to use various forms of advertising, social media, and other technologies and tools to engage the public.
"REALTORS® are launching this campaign for one simple reason: we want Toronto to succeed. Together, we can build a great City and it's important, for all of us, that we get this right. We understand the importance of quality services to building a great city, but we believe that those services should be funded fairly and reliably," said Silver.
The poll was conducted by Ipsos Reid, from April 30 to May 7, 2012, with a sample of 1,257 adults, of which 653 live in the City of Toronto, and 604 live in the surrounding 905 region, with a margin of error of +/-2.8 percentage points, 19 times out of 20.
Questions were posed to only Toronto residents, or only 905 region residents, or both, as appropriate, depending on the question.
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 34,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.
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Contact Information:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com