Real Estate agents....can u explain land transfer tax?

I known it's always been there, but was wondering "what" it is for(besides lining pockets). Looks like it's for possible infrastructure upgrades?
We looked at a house just outside of town. 2 acres, on well and septic, no services besides garbage and recycling pickup.
Listed at $700k, and LTT was $45,000. Fn brutal.
Always been there, currently averages about 1.5 %

Calculating Land Transfer Tax | Land Transfer Tax