Secrets of Super Wealthy Professional Real Estate Investors part 1 of 10:
Many provinces in Canada levy property tax on Real Estate based upon the current use and value of the land and this is the major source of revenue for most municipal governments in Canada.
While property tax levels vary between municipalities in a province there is usually common property assessment or valuation criteria laid out in provincial legislation. The municipality may sell the property to recuperate the property taxes owing, and they have a right to collect the property taxes owing. These properties are never listed on MLS or Real Estate Brokers. This is another secret of super wealthy Professional Canadian Real Estate Investors and or Apprentices to obtainingÂ Tax Sale properties in Canada.