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An interactive map shows all the fallen soldiers in Toronto for Remembrance Day.
An interactive map shows all the fallen soldiers in Toronto for Remembrance Day.
A.I. for Airbnb Hosts (Ben Mulroney – Global News 640 Toronto)
How is artificial intelligence helping Airbnb hosts filter guests? Some cottage country municipalities making it harder to rent out cottages.
How is artificial intelligence helping Airbnb hosts filter guests? Some cottage country municipalities making it harder to rent out cottages.
Airbnb’s in Condo Buildings (Ben Mulroney – Global News 640 Toronto)
Does every condo building allow Airbnb’s?
Does every condo building allow Airbnb’s?
In an effort to generate more revenue for the City of Toronto, Toronto’s Council has approved a new Mansion Tax for homes over $3 million.
If you buy and close on a property prior to Dec. 31st, 2023 you can avoid this additional tax.
The new graduated land transfer tax (LTT) increases would apply as follows:
Value of Property | New Tax | Old Tax |
---|---|---|
$4 mill to $5 mill | 4.5% Toronto + 2.5% Province | 2.5% Toronto + 2.5% Province |
$5 mill to $10 mill | 5.5% Toronto + 2.5% Province | 2.5% Toronto + 2.5% Province |
$10 mill to $20 mill | 6.5% Toronto + 2.5% Province | 2.5% Toronto + 2.5% Province |
$20 mill and more | 7.5% Toronto + 2.5% Province | 2.5% Toronto + 2.5% Province |
If you have a home valued at over $3 million and want to upsize, you might want to consider selling your home this fall and ensure you close before Christmas so that you can avoid this additional tax which will most likely kick in January 2024.
This also means that those who live in houses over $3 million will most likely stay put after Jan. 2024 further restricting our housing inventory.
Here is an example to show you how much you will pay with this additional tax:
Property value | LTT until Dec. 31, 2023 | LTT after Jan. 1st, 2024 | Increase Tax Owed |
---|---|---|---|
$3,500,000 | $147,950 | $152,950 | $5,000 |
$4,500,000 | $197,950 | $217,950 | $20,000 |
$5,500,000 | $247,950 | $292,950 | $45,000 |
Contact us: 416.509.3286 or Davelle@BosleyRealEstate.com
What’s it Like Buying Real Estate in Belize? (Michelle Sharpe – Real Estate Agent)
Michelle Sharpe, a real estate agent from RE/MAX 1ST CHOICE, joins us to talk about the real estate market in Belize and how you can buy real estate there.
Michelle Sharpe, a real estate agent from RE/MAX 1ST CHOICE, joins us to talk about the real estate market in Belize and how you can buy real estate there.