Norcross pitches for piece of provincial and federal tax revenues

Posted November 18, 2024

 

New Tecumseth Mayor Richard Norcross will ask council tonight to support his call for municipalities to share in proceeds from the Provincial Land Transfer Tax and HST as a "predictable and sustainable source of funding for local infrastructure projects without creating a new tax burden on residents or homebuyers."

 

Norcross makes the request in a notice of motion, arguing property taxes alone cannot keep pace with the need to replace/repair infrastucture such aswater, sewer, roads, and bridges.

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In Ontario, if you acquire a piece of land (including a house or condo) or a beneficial interest in a piece of land, you are required to pay land transfer taxes to the provincial government, while HST is charged on almost everything.

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"(R)edistribution of the Land Transfer Tax and GST should be structured to provide predictable and sustainable funding to municipalities, allowing for better long-term planning and investment in infrastructure projects that benefit local communities, thus ensuring that local governments receive a fair share of the revenue to address critical infrastructure needs," according to the motion, which includes action to circulate it widely provincially to garner broad support.​​