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support the campaign to reduce the PTT on Homes!!

Blog by Diane Cardoso | April 30th, 2013

The REBGV has launched a campaign to raise voter awareness of the need for the next government to reduce the PTT on home purchases. 


To support this campaign, people can “like” the REBGV Facebook page at facebook.com/helpreducetheptt.The province introduced the PTT 26 years ago. It was structured to add 1 per cent on the first $200,000 of the purchase price, and 2% on the balance. The government of the day touted the PTT as a wealth tax, as just 5 per cent of homes in Greater Vancouver sold for $200,000 or more. Since 1987, home prices have increased substantially. Yet, after all these years, the tax’s structure hasn’t changed. Today, 96% of homes in Greater Vancouver sell for more than $200,000. “It’s time to relieve some of the unfair tax burden the PTT places on home buyers and we’d like to know where the candidates and parties stand on this issue,” Wyant said.