Monthly Archives: July 2018

What are property taxes?

What is Property Tax?

By: Zoocasa

Property taxes are an important consideration for home buyers, as this levy is a carrying cost that must be paid each year, and will increase or decrease along with the home’s value.

These taxes are collected by the municipality in which you live, and are used to fund a number of infrastructure and service needs at both the city and provincial level; in fact, property taxes account for $19 billion dollars in revenue for the province of Ontario.
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TREB June 2018 report

Toronto Real Estate Board Reports Stronger Sales in June

By: Zoocasa

The start of summer is typically a slower time for real estate, but that trend reversed in June – with 8,082 homes sold, the month ushered in the first year-over-year sales increase since December, according to the latest numbers from the Toronto Real Estate Board.

While sales were up just 2.4% since June 2017, this is still a reversal from double-digit declines between 20-30% recorded in the first half of the 2018.
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