June 1, 2021
Manitoba’s Soaring Land Transfer Taxes Need Reform
- In “Damage Control: Options for Reforming the Land Transfer Tax in Manitoba,” authors Bev Dahlby and Jack Mintz examine the land transfer tax in Manitoba and consider three options for its reform.
- “Compared to other Canadian cities, the land transfer tax in Winnipeg for a property sold at $500,000 is third highest in the country,” write the authors. Winnipeg only trails Vancouver and Toronto while soaring above Montreal, Moncton and St. John’s.
- The authors remain critical of land transfer tax in general. The tax can reduce the number of real estate transactions, hurt young families and those moving to Manitoba. It is also inequitable, as people who need to move more frequently bear more tax, regardless of their income or wealth.