New “School Tax” – Do We Know What It is?
The NDP government has announced a new School Tax as an add on Property Tax. This proposed “School Tax” when looked at is really going into general revenue and isn’t actually a tax for School funding directly. Taxes would be paid on homes with values of over $3 million dollars. This is unique and wealth based tax not seen in yet in North American tax domaines.
Author- Nicola More – Real Estate – Royal LePage.