The Macchiusi Sales Team, Weiss Realty Ltd Brokerage (2021)
On November 5, 2020, the provincial government announced details of its 2020 Budget and economic recovery action plan. Details on real estate related initiatives announced with the budget, including a new renovation credit for seniors and property tax reductions, are provided below. Full details on the budget announcement are available at the government’s site here.
The Toronto Regional Real Estate Board (TRREB) is encouraged to see the provincial government taking action through the provincial budget announced on November 5, 2020, to help ensure continued economic recovery. The global pandemic has taken a serious toll on economies around the world, and it is important for all governments to do what they can to ensure that the economy recovers as quickly as possible. TRREB believe that the measures announced by the provincial government will make an important difference in achieving that goal. TRREB is particularly encouraged to see that the government included some property tax relief measures for businesses.
Since the start of the pandemic and economic downturn, TRREB has been working hard to assist governments at all levels to achieve public health and economic recovery objectives. TRREB has provided detailed input on the state of the Toronto region’s real estate market and advice on policy and fiscal actions that could assist with economic recovery. TRREB looks forward to continuing to work with all levels of government to help move the Greater Toronto Area, the province, and the country through the current public health and economic challenges.
Real Estate Related Budget Initiatives
Seniors’ Home Safety Tax Credit
The Macchiusi Sales Team - Weiss Realty Ltd. Real Estate Brokerage (2021)