Calculators



How to calculate Welcome tax


Transfer of Property Tax or “Welcome Tax”

The tax, which is based on the selling price or on the M.U.C. evaluation of the property whatever is greater. It will be calculated as follows:

.005 Of the first $ 50,000 ($ 1.00 - $ 50,000)
.01 Of the next $ 200,000 ($ 50,001 - $ 250,000)
.015 Of the balance ($ 250,000 ...............)

After you have signed the deed of sale at the notary’s office, the municipality will send you an invoice shortly after you have moved into your new home. We are glad to have you, come again!

Example #1 Sales price:  $ 150,000 

.005 x $ 50,000 =

$ 250

.01 x $ 100,000 =

$ 1,000

Transfer tax

$ 1,250

Example # 2 Sales price:  $ 300,000  

.005 x $ 50,000 =

$ 250

.01 x $ 200,000 =

$ 2,000

 .015 x $ 50,000 =

$ 750

Transfer tax

$ 3,000

Example #3  Sales price Transfer tax
  $ 100,000 $ 750 
  $ 150,000  $ 1,250 
  $ 200,000 $ 1,750
  $ 250,000 $ 2,250
  $ 300,000 $ 3,000
  $ 350,000 $ 3,750 

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %
Parvez Coowar 1215 Notre-Dame Ouest, Montréal, Qc., H3C 0B1 Montreal, QC H3c0b1 Phone: 514.846.0909 Mobile: 514-823-7278 Email Parvez