The Land Transfer Tax is calculated based on the fair market value of the property on the date of registration of a transfer of title and calculated as follows:
Amount | Rate |
---|---|
On the first $30,000 | 0% |
On the next $60,000 (ie., $30,001 to $90,000) | 0.5% |
On the next $60,000 (ie., $90,001 to $150,000) | 1.0% |
On the next $50,000 (ie., $150,001 to $200,000) | 1.5% |
On amounts in excess of $200,000 | 2.0% |