Property taxes are charged by the municipality where a home is located, based on the home’s value. These taxes fund local services such as schools, infrastructure, and public safety. The amount you pay is determined by the assessed value of your property and the local tax rate. Property taxes are an ongoing expense for homeowners and can vary significantly depending on the location and value of the property.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Mortgage Relief Options

    Facing financial difficulties can be overwhelming, especially when it comes to managing your mortgage payments. Fortunately, there are several [...]

  • Understanding Mortgage Interest in Canada

    Navigating the world of mortgages can be complex, especially when it comes to understanding how interest rates impact your home [...]

  • How To Get a Mortgage

    Getting a mortgage is a significant step toward homeownership. However, the process can seem complex and overwhelming. This guide will [...]