Real Estate Blog - Real estate in St. John's

Don't let hidden taxes and fees catch you off guard when buying or selling real estate in St. John's

Posted by Infinity Admin on April 27th, 2023

Buying or selling real estate in St. John's, Newfoundland and Labrador, can be an exciting and rewarding experience, but it's important to understand the taxes and fees associated with property ownership. In this comprehensive guide, we'll explore the various taxes and fees that buyers and sellers should be aware of. 

Property Taxes

According to the City of St. John's website, property taxes are determined by the assessed value of the property and paid annually. As of 2023, the property tax rate for residential properties in St. John's is 6.7 mills (or $6.70 per $1,000 of assessed value), while the tax rate for commercial properties is 23.2 mills (or $23.20 per $1,000 of assessed value). As a buyer, it's important to understand the current…

258 Views, 0 Comments