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LAND TRANSFER TAX: DEFEATED The City of Calgary has dropped its plan to introduce a land transfer tax originally proposed as an initiative to cover the costs of affordable housing. On Monday February 23, 2009 the council narrowly squashed the consideration of a 1 per cent home buyers’ tax in a vote 8-7. Just prior to the vote the Calgary Real Estate Board’s Governmental Affairs Committee in collaboration with the Alberta Real Estate Association sent a letter to Mayor Bronconnier and the city’s aldermen stating their opposition to the tax. “A land transfer tax is an unfair tax. It is essentially a home buyers’ tax and singles out a select group of individuals for taxation. It asks home buyers to pay for municipal services which benefi t the entire community,” wrote Calgary Real Estate Board President Bonnie Wegerich in the letter. “At a time when we are faced with a need for affordable housing, this tax would only compound the problem and further burden an economy under pressure,” added Wegerich. Following its defeat the Board received a number of emails from city aldermen confi rming receipt of the letter and their own opposition to the tax. The Calgary Real Estate Board will continue to monitor this issue, and take further action should the need arise. The Calgary Real Estate Board would like to thank the Governmental Affairs Committee and the Alberta Real Estate Association for their ongoing work on this important issue.