Mayor of Bracebridge, Graydon Smith, is saying there’s no need to worry about a proposed municipal land transfer tax.
Smith says this tax is completely theoretical at this point and is part of a larger ongoing conversation.
Smith says that municipalities are looking for ways of raising funds without raising taxes for residents, but nothing has been set in stone at this point.
Recently the Lakelands Realtors Association raised concerns over the land transfer tax and the negative implications it could have to the market.