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Updated over 1 year ago on . Most recent reply

Swetha Duvvuru's profile image
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Swetha Duvvuru
  • Member since Jul 10, 2023
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Swetha Duvvuru
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Swetha Duvvuru
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Buying & Selling Real Estate

What is mill rate in property tax calculator

Swetha Duvvuru
Posted

We purchased a stacked townhouse and builder is asking to pay 679$ as taxes and below is the math they are giving us 

The vendor takes the total sale price x mill rate/12 to obtain the estimated monthly taxes.

Usually for property of worth 679k CAD property tax would be around 3000 CAD annually but we are asking to pay 679 CAD monthly during pre occupancy.

Toronto, Ontario
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