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Land Transfer Tax - Toronto

By
Real Estate Agent with Keller Williams Renowned Realty

A second land transfer tax, on top of the provincial land transfer tax, at the following rates:

Residential:

  • 0.5% of the amount of the purchase price up to and including $55,000, plus
  • 1% of the amount of the purchase price between $55,000 and $400,000, plus
  • 2% of the amount of the purchase price above $400,000

Commercial / Industrial / Etc.:

  • 0.5% of the amount of the purchase price up to and including $55,000, plus
  • 1% of the amount of the purchase price between $55,000 and $400,000, plus
  • 1.5% of the amount between $400,000 and $40 million, plus
  • 1% of the amount above $40 million

When does this take effect?

February 1, 2008.

Michael La Fay
Meadow Lakes Supply Co. - Wasilla, AK

Man they tried to put a transfer tax on us here in the MatSu Borough.... that got squashed!

What does your transfer tax go towards? Do you have land taxes on top of that?

Jan 09, 2008 04:14 AM