| Share | Rate | On $900,000 |
|---|---|---|
| Municipal | 0.81% | $7,252 |
| Education | 0.28% | $2,517 |
| Seniors housing | 0.01% | $60 |
| Total | 1.09% | $9,829 |
| City | Rate | On $900,000 |
|---|---|---|
| Lethbridge | 1.05% | $9,452 |
| Camrose | 1.09% | $9,785 |
| Lacombe | 1.09% | $9,829 |
| St. Albert | 1.11% | $9,969 |
| Brooks | 1.12% | $10,035 |
Alberta levies no land transfer tax, provincial or municipal. At closing there are two Land Titles registration fees: $50 plus $5 for each $5,000 or portion thereof of the land value, and the same on the mortgage principal.
On a $900,000 building financed at 80%, that comes to $1,720 in all. Bought with cash, the same building costs only $950: the second half of the line follows the mortgage, not the price. For comparison, the same building in Vancouver would pay a five-figure transfer tax. So what sets Lacombe apart from its neighbours is not closing costs: it is its property tax rate.
Lacombe does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 1.09%. That is not the case everywhere in Alberta, where each council decides, and where a fourplex changes rate in Edmonton, Red Deer, Lethbridge and Stony Plain.
Lacombe's rate is 1.09%. On a $900,000 plex that is $9,829 a year.
No. Lacombe does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 1.09%.