Land Transfer Tax
When you buy a property, land transfer taxes are typically included as part of closing costs. This type of tax is applied to properties which change owners and are the responsibility of the Buyer. Tax percentage applied depends on location.
Buying land or an interest in land within the province of Ontario, means you pay a land transfer tax which your Lawyer will calculate and tally on your closing cost bill. Sometimes there are exceptions to this rule for 1st Time Home Buyers. Talk to one of our sales representatives to get all the details.