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Old 2009-04-30, 11:19 PM
Galloway Galloway is offline
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Question Final Purchase Price

hello people!

this might be a stupid question, but bear with me as i am a newbie in this process.

we are planning to get a few upgrades done for apprx. 25K and we plan to add as much as we can to our mortgage.

does our property tax get calculated based on the total purchase price (upgrades included on top of the cost of the house)???
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Old 2009-04-30, 11:28 PM
SoNgMaN SoNgMaN is offline
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Quote:
Originally Posted by Galloway View Post
hello people!

this might be a stupid question, but bear with me as i am a newbie in this process.

we are planning to get a few upgrades done for apprx. 25K and we plan to add as much as we can to our mortgage.

does our property tax get calculated based on the total purchase price (upgrades included on top of the cost of the house)???
sort of, it is based on the assessed value. which some of those upgrades will cause an increase. assessments are handled by MPAC. http://www.mpac.ca/
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