| Share | Rate | On $900,000 |
|---|---|---|
| Municipal | 0.45% | $4,047 |
| Education | 0.28% | $2,498 |
| Seniors housing | 0.01% | $129 |
| Total | 0.74% | $6,674 |
| City | Rate | On $900,000 |
|---|---|---|
| Red Deer County | 0.71% | $6,382 |
| Strathcona County | 0.73% | $6,549 |
| Parkland County | 0.74% | $6,674 |
| Fort Saskatchewan | 0.79% | $7,118 |
| High River | 0.81% | $7,312 |
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 Parkland County apart from its neighbours is not closing costs: it is its property tax rate.
Parkland County does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 0.74%. 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.
Parkland County's rate is 0.74%. On a $900,000 plex that is $6,674 a year.
No. Parkland County does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 0.74%.