The Chatham-Kent Association of Realtors wants local residents to let their MPPs know they don't want to pay another tax when they buy a new home.
The Ontario government is considering giving municipalities the power to charge a new land transfer tax in addition to the one that the province already has in place.
While the move could limit the amount of money municipalities need to take in via property taxes, Steve Carroll with CKAR says there is another possibility.
"It depends what stand the province takes," says Carroll. "They could choose to reduce transfer payments because municipalities would have the option of bringing in the new land transfer tax."
Carroll also thinks it's important for everyone to be aware of the economic impact the tax could have if it is implemented in Chatham-Kent.
"There are lawyers fees involved, and real estate fees involved too, but the bigger portion of it is renovations," says Carroll. "If this were to curtail the sale of homes, it would affect the local economy from that standpoint."
Carroll says if the tax is approved and then implemented in Chatham-Kent, home buyers would be forced to hand over about $1,400 in additional land transfer taxes on the average priced home in the municipality.
The municipal land transfer tax will be up for debate in the provincial legislature on December 3.
