Newly Constructed Homes

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Newly-Constructed Homes and Supplementary Taxes

Owners will receive a tax bill for the value of the vacant lot only until the home is assessed by the Municipal Property Assessment Corporation (MPAC)
Then they will receive a supplementary tax bill for taxes on the value of the house only
This process can take 2 to 3 years and the tax bill will be retroactive to the date of occupancy.
- If payment has been made to the builder for property taxes upon closing, please provide a copy of your supplementary tax notice(s) to your lawyer for verification and/or any applicable property tax adjustments necessary.
To estimate your annual taxes, multiply the purchase price x 0.90%
For further information contact Revenue and Taxation Services