| Share | Rate | On $900,000 |
|---|---|---|
| Municipal | 0.64% | $5,778 |
| Education | 0.25% | $2,251 |
| Seniors housing | 0.01% | $90 |
| Total | 0.90% | $8,118 |
| City | Rate | On $900,000 |
|---|---|---|
| Olds | 0.89% | $7,970 |
| Hinton | 0.90% | $8,072 |
| Spruce Grove | 0.90% | $8,118 |
| Beaumont | 0.93% | $8,407 |
| Leduc | 0.94% | $8,456 |
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 Spruce Grove apart from its neighbours is not closing costs: it is its property tax rate.
Spruce Grove carries a residential sub-class on its schedule, “Multi-family”, whose definition is published nowhere: the tax rate bylaw refers to it without reproducing it. The rate shown here is the ordinary residential rate, and this tool does not guess a threshold no text provides.
It is named rather than hidden: a buyer looking at a multi-unit building in Spruce Grove should ask the municipality which sub-class it falls under.
Spruce Grove's rate is 0.90%. On a $900,000 plex that is $8,118 a year.
No. Spruce Grove does not divide its residential class: a duplex, a triplex and a fourplex are all taxed at the same rate, 0.90%.