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| Tax on the portion of the purchase … | Rate |
… up to the first $30,000 | 0% |
… between $30,001 and $90,000 | 0.50% |
… between $90,001 and $150,000 | 1.00% |
… between $150,001 and $200,000 | 1.50% |
… over $200,000 | 2.0% |
The land transfer tax is calculated as a percentage of the home value, but there is an additional $70 (flat fee) that you have to pay as well.
If you bought a home worth $350,000, you would owe 0% on the first $30,000, 0.5% on the amount up to $90,000, 1% on the amount up to $150,000, 1.5% on the amount up for $200,000, and 2% on the remaining $100,000 for a total of $3,870.
