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Sand in the Gears: Evaluating the Effects of Toronto's Land Transfer Tax

Author

Listed:
  • Benjamin Dachis

    (C.D. Howe Institute)

  • Gilles Duranton

    (University of Toronto)

  • Matthew A. Turner

    (University of Toronto)

Abstract

The Toronto Land Transfer Tax, implemented nearly a year ago, has had significant negative effects on the housing market, reducing sales and lowering average house prices.

Suggested Citation

  • Benjamin Dachis & Gilles Duranton & Matthew A. Turner, 2008. "Sand in the Gears: Evaluating the Effects of Toronto's Land Transfer Tax," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 277, December.
    • Handle: RePEc:cdh:commen:277
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    File URL: https://www.cdhowe.org/sand-gears-evaluating-effects-torontos-land-transfer-tax
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    References listed on IDEAS

    as
    1. O'Sullivan Arthur & Sexton Terri A. & Sheffrin Steven M., 1995. "Property Taxes, Mobility, and Home Ownership," Journal of Urban Economics, Elsevier, vol. 37(1), pages 107-129, January.
    2. Jos Van Ommeren & Michiel Van Leuvensteijn, 2005. "New Evidence of the Effect of Transaction Costs on Residential Mobility," Journal of Regional Science, Wiley Blackwell, vol. 45(4), pages 681-702, November.
    3. Dahlby, Bev & Wilson, Leonard S., 2003. "Vertical fiscal externalities in a federation," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 917-930, May.
    4. Benjamin, John D & Coulson, N Edward & Yang, Shiawee X, 1993. "Real Estate Transfer Taxes and Property Values: The Philadelphia Story," The Journal of Real Estate Finance and Economics, Springer, vol. 7(2), pages 151-157, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Bev Dahlby, 2012. "Reforming the Tax Mix in Canada," SPP Research Papers, The School of Public Policy, University of Calgary, vol. 5(14), April.
    2. Benjamin Dachis, 2012. "Stuck in Place: The Effect of Land Transfer Taxes on Housing Transactions," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 364, October.
    3. Benjamin Dachis, 2018. "Fiscal Soundness and Economic Growth: An Economic Program for Ontario," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 505, March.
    4. Alexandre Laurin, 2009. "Cleaning Up the Books: A Proposal for Revamping Corporate Group Taxation in Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 284, March.
    5. Benjamin Dachis & Adam Found & Peter Tomlinson, 2014. "The 2014 C.D. Howe Institute Business Tax Burden Ranking," e-briefs 187, C.D. Howe Institute.

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    More about this item

    Keywords

    fiscal policy; Toronto municipal government; Toronto real estate;
    All these keywords.

    JEL classification:

    • R51 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Finance in Urban and Rural Economies
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue

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