Quebec Refunds Welcome Tax for Homebuyers

0:00It's April 17th. This is Canada News Today. Local news powered by AI. Quebec's premier Christine Frischette just dropped big news for first time home buyers, the government's reimbursing the welcome tax up to a max of $5,875. She laid it out at a press conference Friday afternoon in Laval, aiming to ease that upfront hit when you snag your first place. Here's how it breaks down. The first $5,000 gets fully refunded, then you get 25% back on the next $800, $75. You qualify if your home costs under $1,000,000, but it tapers off gradually between $750,000 and $1,000,000. This move kicks in retroactively from January 1st this year, so if you already bought, you might be in line for cash back. People's figure it'll help around 38,000 buyers annually, with most households pocketing about $3,700 on. Average. The price tag for the province?

1:01Roughly $140 million a year, but they see it as a smart play to get more folks into homes amid tough markets. Keep an eye on the details as they roll this out. It could be the boost some need to finally lock in that dream spot.