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Federal and Ontario Governments Cut Municipal Development Charges by Up to 50 Percent
The federal and Ontario governments aim to boost home construction by cutting municipal development charges by up to 50%, following a tax relief on new homes.
- On Monday, Prime Minister Mark Carney and Ontario Premier Doug Ford announced an $8.8 billion plan to cut municipal development charges on new homes by up to 50 percent for three years.
- Rising development fees, alongside high borrowing and construction costs, have hindered project launches as new home sales in major cities plunged more than 70 percent.
- Through the Build Communities Strong Fund, both governments will each contribute $4.4 billion to offset financial impacts, targeting municipalities covering 80 percent of the population.
- Federal housing and infrastructure minister Gregor Robertson stated the investment aims to "remove barriers to homebuilding and home ownership," allowing municipalities to cut up to $200,000 in fees per home.
- The Association of Municipalities of Ontario warned that replacing lost development charge revenue could force average property taxes to rise by 20 percent, creating fiscal trade-offs for essential infrastructure.
25 Articles
25 Articles
After HST Break, governments turn to building costs with $8.8 billion plan
Another round of housing-related relief is rolling out from Ottawa and Queen’s Park, just days after the Federal government’s move to scrap the 13 per cent HST on new homes ahead of the provincial budget.
Ontario, Canada sign $8.8 billion deal to build affordable homes
A new partnership between Ontario and the federal government has been announced to cut the cost of building new homes and increase the housing supply across Canada.Prime Minister Mark Carney and Premier Doug Ford were in Etobicoke on Monday morning to announce that development charges for new homes will be cut by up to 50 per cent over the next three years.Carney said reducing development charges by half means a $40,000 savings for homeowners bu…
Development charges to be cut in half for three years through $8.8 billion investment by Ontario and federal governments
The federal and provincial governments will jointly spend $8.8 billion to lower municipal development charges that drive up housing costs over the next decade, Prime Minister Mark Carney and Premier Doug Ford announced Monday.
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Feds, Ontario announce $8.8B to help cities build housing infrastructure
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