Financial levy collected by a municipality or school board on an immovable. In the case of a divided co-ownership, real estate taxes are based on the value of each private portion (e.g. apartment or parking space) plus the value of the share (%) of the common portions associated with it. Real estate taxes, whether municipal or school taxes, are prior claims under the Civil Code of Québec.
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.