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Real estate tax to be paid by a co-owner in respect of a private portion (such as, an apartment, a parking space or a locker) to a school service centre serving the territory where his immovable is situated. School taxes are the main source of revenue to fund expenses related to the activities of the school service centres, such as the management of their schools and a portion of school transportation services.
WHAT YOU SHOULD KNOW! Common portions and common portions for restricted use are not subject to such real estate taxes, as they are already a part of the unit of assessment constituted by the private portion.
15/03/2024
The municipal value of a property is often a basic measure of market value. With the increase in the market value of buildings, caused by a booming real estate market, a co-owner may have a clear interest in asking his municipality to change the value of his unit (to reflect…...
17/07/2019
Undivided co-ownership has existed since time immemorial, even before the existence of divided co-ownership. Joint ownership allows two or more people to own a building while sharing the acquisition and operating costs. A co-ownership is said to be undivided when the right of ownership is not accompanied by a physical…...