Property assessment, municipal taxes and transfer tax

Property Assessment

Online Evaluation Unit (Acceo Mobile)

Centered on the evaluation unit, it is a one-stop shop that allows various clients to obtain information on a property’s municipal taxes, as well as certain other complementary aspects such as cartography, photos and regulations. The way to get it is simple and consistent and the content is according to the type of user.

This tool therefore allows a great flexibility and it gives autonomy to the professionals who use it.

Who is it for?

  • Professional version (on registration, for notaries, real estate agents, land surveyors, certified appraisers, lawyers or any other related professionnals)
  • Free public version (free, but under certain restrictions)

Graphical Matrix

The GOnet map is easy to use and provides a variety of assessment data for a given property or lot.

Municipal taxes: payment in four instalments

Town of Brome Lake property tax accounts are payable in several instalments each year. In 2021, the payment dates will be:

  • 1st instalment: March 3th 2021
  • 2nd instalment: May 5th 2021
  • 3rd instalment: June 30th 2021
  • 4rd instalment: September 15th, 2021

Payment methods:

Transfer taxes: a tax payable on the purchase or transfer of any immovable anywhere in Québec

In accordance with the Provincial Real Property Transfer Act, Town of Brome Lake must collect a toll on the transfer of any immovable property located on its territory. Read the by-laws here (in French). Often called “welcome tax”, it must be paid to the municipality by any new purchaser of a building on its territory. Transfer fees are normally invoiced at the time of the transaction to your notary and are payable to the municipality within 30 days.

However, there are exceptions where the purchaser may be exempted, where:

  • The tax base is less than $ 5,000,
  • It is a transfer between parents, either in an ascending or descending direct line (son, daughter, father, mother), between spouses, between stepfather or stepmother and son-in-law or daughter-in-law, between stepfather and stepmother and stepson,
  • The transfer of real property to his company by a shareholder owning more than 90% of the shares in the company or vice versa.

Several other situations of exemption are provided for in the Act respecting duties on transfers of immovable property. Your notary can provide you with information or consult the Government of Quebec’s website.

Make sure your mailing address is up to date on your notarized contract to avoid any delay in your payment. Do not hesitate to question your notary for all questions concerning transfer taxes.

How to calculate the right of transfer

The taxable amount is the higher of the following amounts:

  • The amount of the consideration provided for the transfer of the immovable,
  • The market value of the immovable at the time of transfer (standardized value).

Since January 1, 1992, the tax on real estate transfers is calculated at the following rates:

  • On the first tranche of the tax base of $ 52,800: 0.5%,
  • On the portion of the tax base of more than $ 52,800 but not exceeding $ 264,000: 1%,
  • On the portion of the tax base that exceeds $ 264,000 but not exceeding $ 500,000: 1.5%,
  • On the portion of the tax base of more than $ 500,000 but not exceeding $ 750,000 : 2.0%,
  • On the portion of the tax base of more than $ 750,000 but not exceeding $ 1,000,000 : 2.5%,
  • On the portion of the tax base that exceeds $ 1,000,000: 3.0%.

Example of a calculation for an imposed value of $ 350,000:

The first $ 52,800 at 0.5% = $ 264
The excess of $ 211,200 to 1.0% = $ 2,112
The excess of $ 264,000 or $ 86,000 to 1.5% = $ 1,290