Question:
We recently listed our home with a local real estate company. In due time we received a note from the Moose Jaw Real Estate Board Inc. thanking us for using the services of a REALTOR®. Included with the letter was a copy of our listing for us to look over. I noticed that there is a part called local improvement levy which has zero beside it. Could you please explain what this is and why it is information needed on our home?

J & T Nobles

Answer:
Dear J & T

Firstly we would again like to thank you in your choice of using a REALTOR® in the selling of your home. This is another reason why using a professional reduces surprises and delays on possession. The local improvement levy is an addition placed on your property tax by the city. Improvements to your residential neighbourhood are made by the city from time to time and are paid for by a local levy on your property taxes. These improvements can be curb & gutter, new sewer lines, new pavement or sidewalks, etc. The costs for these improvements are shared equally by everyone in your neighbourhood and placed on your property tax for a set time. When the levy has run its prescribed time it is then removed from your yearly tax bill to the city.

You stated in your inquiry that there is a “0” beside this part of the listing form, and this means as of the date of listing there are no additional tax levies assessed by the city for your property. If you do receive a notice from the city explaining an increase for the next years property tax, due to an improvement, it would be to your benefit to give this information to your listing REALTOR®. The new information should be available to any potential buyer.

This information is included on the listing to inform a perspective buyer of the total costs of property taxes on your home. Imagine if you will selling your home and then the perspective buyer finds that an additional sum of money not included with your property tax must be paid to the city for a period of time. It could result in collapse of the sale, court, or out of pocket expenses. By having this information on the listing form your REALTOR® has provided you and the buyer with the proper information to makes the sale good for all involved.

Well J & T I hope this answers your questions, and you see how important this information is.

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Address your inquires to:
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c/o Moose Jaw Real Estate Board
79 Hochelaga St. W.
Moose Jaw, SK
S6H 2E9