Definition : Real estate tax

Tax owed to the municipality and the school board by a co-owner in relation with a private portion (for example, an apartment or a parking space). The common portions and the common portions for restricted use are not subject to this type of real estate tax.

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Transfer duties, commonly called “welcome tax” implemented in 1976 by the then minister for Municipal affairs, Guy Tardif. An “urban myth” falsely attributes the parenthood of this tax to the liberal minister Jean Bienvenue. (Bienvenue means “welcome” in French). An additional source of revenue for cities and municipalities, the tax requires you, as the new owner, to pay duties on the acquisition of real estate. It applies to transfers of any new or used building and land, unless exempted by Law. Any new owner has 30 days to pay his transfer duties from the receipt of an invoice asking him to pay. Generally, this invoice is sent a few weeks after the acquisition of the apartment.  
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