TAX CERTIFICATES

Property tax searches or tax certificates are commonly obtained by lawyers, bankers and mortgage brokers during real estate transactions. A tax certificate will display the Property taxes owing as at the date and time the search was conducted. Outstanding balances, if any, will include interest, penalties, arrears and delinquency on payments on property taxes.

Other information shown on a tax certificate will include the current year’s total tax levy and total value assessment separated by land and improvement totals. The search will also indicate whether the Home Owner Grant (HOG) was claimed. A tax search is beneficial if you are considering making an offer on a house that is in a municipal tax sale or has a municipal tax lien registered against the property. This search is also valuable in determining the amount of property taxes on a property you may be interested in purchasing.