This post talks about some of the taxes which can apply when you're purchasing (or holding) real estate in Nanaimo and the surrounding areas. Please note: I am not an authority; consult your accountant or tax advisor!
Jump to the sections on this page:
- Property Taxes
- Property Transfer Tax
- Foreign Buyers Tax
- Speculation & Vacancy Tax
- Empty Homes Tax
Most people are already familiar with this kind of real estate tax. It is charged by your local municipality or district and is used to fund local services like schools, police, firefighting, hospitals, road construction, parks, and much more.
The rate is applied against the "assessed value" of your property, as calculated each…
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