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Cost of housing in Canada

The median list price of homes in Regina, SK overall was $293,441 in February 2024,

Oh, I thought this thread had transitioned to sharing super expensive listings that were notably above regional average costs? 🤔
 
Oh, I thought this thread had transitioned to sharing super expensive listings that were notably above regional average costs? 🤔

Looks like I won’t be moving to Regina any time soon…anyone have $2.7M?


Other than Regina and its previously noted $2.7M mansions, of course.

You seem pretty hung up on this property.

Time on REALTOR.ca
111 days

Let us know when they find a buyer. 🤔

$2.7 million for an average detached home price is not "super expensive" in some City of Toronto neighborhoods.

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You want "super expensive"? 🤔

Here are five for you.


$34,981,778.

$34,500,000.

$28 million.

$25 million.

$23,880,000.
 
If you think property tax is hilarious, maybe you will get a kick out this,

Dec 6, 2023



Toronto $1,666

Halifax $2,885

Ottawa $2,923

Winnipeg $6,610

Edmonton $2,362

Lethbridge $2,684


What city in Canada has the highest property tax?​



Residential Tax Rate

Toronto 0.666274%

Halifax 1.154%

Saskatoon 1.28932%

Regina 1.556501%

Ottawa 1.169276%

Guelph 1.229079%

Winnipeg 2.6429%

Edmonton 0.94475%

Lethbridge 1.07365%

Doesn't necessarily mean much. In BC, the mill rates are adjusted to account for fluctuations in assessed value. Ultimately all that matters is the total payable. If one were looking for some kind of proportional value, property area would make more sense.
 
Ultimately all that matters is the total payable.

Forbes put it this way.

10 Jan., 2024

There is a basic formula used across Canada to determine your property tax amount:

Property Tax = Assessment Value x Municipal Tax Rate​


Cities with high home values + low property tax ultimately = higher total payable.

Cities with low home values + high property tax ultimately = lower total payable.

Cities such as Vancouver and Toronto have high home values and low property taxes, while Fredericton, Winnipeg and other cities with low home values have some of the highest tax rates.

 
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