What are OHOSP and LTT?
LTT only applies for those who made OHOSP Contributions Made Prior to December 31, 1993, Under the plan, persons who have not owned a home are able to contribute up to $2,000 per year to the plan and receive a tax credit based on their total family income. Credits are available for single annual incomes below $40,000 and family incomes below $80,000. Unfortunately the Land Transfer Tax Refund Program has not been extended beyond December 31, 1993. Anyone who has not contributed to OHOSP by that date will not be eligible for a refund when they purchase their first home. Those that did contribute before that date will be eligible for a refund according to the following table.
