# Realty tax



## abroad (Feb 26, 2013)

What is realty tax, is it the transfer tax when you buy property, the municipal tax or both?


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## kcowan (Jul 1, 2010)

It is the municipal assessment often called property tax.


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## abroad (Feb 26, 2013)

kcowan said:


> It is the municipal assessment often called property tax.


Yes, thank you,

We have a contract that says that the tenant has to pay the realty tax, I was wondering what tax is ment with that.
I supose its the municepal/property tax, because it seems to me that there is no land transfer tax when you rent land out.

but I dont no what realty tax means, and perhaps i'm wrong.


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## Beaver101 (Nov 14, 2011)

Realty tax means property tax that the city (municipal) collects from each property owner to pay for schools, police, roads repair, city infrastucture services, etc. The property tax could be classified as residential (houses) or commercial (business buildings) .. the latter could include a business improvement tax also.


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## Connie Merrow (Sep 9, 2014)

It is the municipality tax. Transfer tax may not be applied.


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