| Share | Rate | On $900,000 |
|---|---|---|
| Municipal | 0.68% | $6,098 |
| Education | 0.25% | $2,261 |
| Seniors housing | 0.01% | $97 |
| Total | 0.94% | $8,456 |
| City | Rate | On $900,000 |
|---|---|---|
| Spruce Grove | 0.90% | $8,118 |
| Beaumont | 0.93% | $8,407 |
| Leduc | 0.94% | $8,456 |
| Stony Plain | 0.94% | $8,490 |
| Devon | 0.94% | $8,492 |
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 Leduc apart from its neighbours is not closing costs: it is its property tax rate.
Leduc does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 0.94%. 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.
Leduc's rate is 0.94%. On a $900,000 plex that is $8,456 a year.
No. Leduc does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 0.94%.