Provincial Budget Update: Land Transfer Fee

What is a Land Transfer Registration Fee?

Alberta doesn't have a land transfer tax. Instead, the government charges a land transfer registration fee: one to process the transfer of the property title and another to register your mortgage.  Recently, the government of Alberta announced an increase in the land titles registration fees in the 2024 Budget. Despite this increase its worth noting that Alberta's land title transfer fees remain the lowest in Canada.

 

What is the Fee Amount?

In the past, The fee was $2 per $5,000 of the properties purchase price plus $50. The Fee has increased $3 making it that you pay $50 plus $5 per $5,000 of the property's purchase price for the title transfer. The table below shows a comparative of the fee from BC, ON, QC, AND AB.

 

Land Transfer Registration Fee Based on Total Purchase Price

The graph below shows us a comparative of the land titles registration fee from different price points based on the entire purchase price of the property.

 

Mortgage Registration Fee Based on Mortgage Price

The graph below shows us a comparative of the land titles registration fee from different price points based on the mortgage of the property. The mortgage amounts below reflect 80% of the Purchase Price of the table above

Although the increase in the land title registration fee may seem like a lot it is important note that it is the lowest fee in the country.

The full budget is available on alberta.ca 

Check out of March 2024 Newsletter to get recent updates on our local market.