Do you have a commercial or housing property in the village, city or city, you have to pay property taxes. The city government relies on this tax to increase the income needed for local services. Collected from property owners, these taxes go directly to local governments so they can maintain the health and livability of the region.
Calculate property tax
If you are on the market for a new home, it is very important that you have an understanding of your property tax. In some cases, these taxes can be prohibitively high, even if you can afford the mortgage on your home; and for this reason, you must always include this tax in your yearly budget. Tax rates tend to be the same in the city, but the value of your home will affect your tax rate. The Nettles & Co Property Tax Consulting has been working hard to reduce the burden of property taxes for individuals, investors, asset managers, banks, and realtors.
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In general, property tax is calculated by the central institution in each province and is based on property assessment in your municipality. Every province in Canada will have an independent assessment board who considers both the home market value and its geographical location. The tax rate will be determined on an annual basis and will also vary depending on whether you have a residential, commercial or industrial property.