City Tax Does Not Seem To Be Effecting Etobicoke Real Estate
A couple of years ago the city of Toronto implemented its own land transfer tax that effects buyers of homes. This tax is in addition to the provincial land transfer tax effectively doubling the amount buyers now have to pay. At the time many people thought it would have a negative effect on the Etobicoke real estate market because Etobicoke is so close the city of Mississauga which has no such additional tax. Fortunately for home owners this nightmare scenario has not happened. In fact the average price for homes in Etobicoke has continued to increase even thought those increases may be modest given the current economic climate.
