Definition : Standardized value

The value of the property fixed by the municipality multiplied by its comparative factor. You may find the comparative factor applicable in the municipality in which you are purchasing a property by consulting the web site of the “Ministère des affaires municipales et occupation du territoire” (Municipal Affairs and Territory Occupation Department).  

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Transfer duties, commonly called “welcome tax” are an additional source of revenue for cities and municipalities. This tax requires you, as a 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 purchaser has 30 days to pay his transfer duties, from the moment he receives the invoice asking him to pay them. Generally, this invoice is sent a few weeks after the acquisition of the apartment.  
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