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October 11, 2012

Toronto’s Land Transfer Tax (LTT) has had a significant impact on home sales and household mobility in the city over the longer term, according to a report released today by the C.D. Howe Institute. In “Stuck in Place: The Effect of Land Transfer Taxes on Housing Transactions,” Benjamin Dachis finds the LTT has depressed sales volume by 16 percent, on average, since its introduction in 2008.   “Municipalities across the country – especially those neighbouring Toronto – should beware Toronto’s example, where the imposition of a land transfer tax depressed housing sales, raised relocation costs and reduced household mobility,” said Dachis, a Senior Policy Analyst with the Institute.

 

Benjamin Dachis
Benjamin Dachis, Associate Director, Research, Policy Expert

Benjamin Dachis is Associate Director, Research at the C.D. Howe Institute. He started with the C.D. Howe Institute in 2006 as a Research Fellow and also has experience with a major U.S. think tank. He returned to the C.D. Howe Institute as a Policy Analyst in January of 2008, and became a Senior Policy Analyst in 2011 and Associate Director, Research in 2016.