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I am thinking of purchasing a property in an EFU zone that is no longer being specially assessed but has a potential additional tax of over $5,000. Do I need to pay this?

April 26, 2017additional assessed efu longer potential Property purchasing specially thinking zone

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I am thinking of purchasing a property in an EFU zone that is no longer being specially assessed but has a potential additional tax of over $5,000. Do I need to pay this?

1 Answer

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In order to build the house the potential additional tax would need to be paid. The parcel would not then be eligible for special assessment in the future. This would apply to new owners as well.