Lower property tax rates are softening the blow of exorbitant B.C. home prices — via financialpost
Montreal’s property tax rate of 0.5305 per cent also places it in the top five. But with an average home price of $519,200, Montrealers would pay a mere $2,754 in property taxes — the lowest amount on the list for an average-priced home. St. John’s, N.L., followed closely, with homeowners paying $2,997 in property taxes on a $280,400 home.
Other cities with notably high property tax rates included Sault Ste. Marie, Ont., where homeowners would pay $4,759 on an average-priced home of $276,600, owing to a property tax rate of 1.720655 per cent. Charlottetown and Saint John, N.B., followed with rates of 1.67 per cent and 1.62 per cent, respectively. However, due to average home prices below $350,000, residents in there can expect to pay less than those in most Ontario cities.
Patti Cosgarea, public relations and content marketing manager at Zoocasa.com, urged potential homebuyers to exercise caution and thoroughly assess the implications of these expenses on overall housing affordability.
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