The land transfer tax will work as follows:
- one-half of one per cent on the first $55,000 in property values
- one per cent on the next $345,000 in property values
- two per cent of the value residential units exceeding $400,000 for residential transactions
- one and a half per cent on the remaining value of up to $40 million and one per cent above that on commercial properties
A rebate of up to $3,725 will apply to first-time purchasers of homes. This means a full rebate for first time buyers of homes valued at $400,000 or less.
The personal vehicle ownership tax is set at $60 for cars and $30 for motorcycles, annually.
The land transfer tax will work as follows: - one-half of one per cent on the first $55,000 in property values - one per cent on the next $345,000 in property values - two per cent of the value residential units exceeding $400,000 for residential transactions - one and a half per cent on the remaining value of up to $40 million and one per cent above that on commercial properties
A rebate of up to $3,725 will apply to first-time purchasers of homes. This means a full rebate for first time buyers of homes valued at $400,000 or less.
The personal vehicle ownership tax is set at $60 for cars and $30 for motorcycles, annually.
FIRST-TIME BUYERS who purchase a NEWLY CONSTRUCTED HOME will receive a rebate of the LTT. All other buyers will continue to pay the full applicable tax.
FIRST-TIME BUYERS who purchase a NEWLY CONSTRUCTED HOME will receive a rebate of the LTT. All other buyers will continue to pay the full applicable tax.