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ARTICLE · 14 FEBRUARY 2025

Alberta Mortgage Registration Levies Increase Again: Land Value Now Valueless

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On January 31, 2025, the Financial Statutes Amendment Act, 2024 (No. 2) (the "2024 Act") came into force, introducing a significant change to how mortgage registration levies are calculated in Alberta.

CanadaFinance and Banking
Alina Kaiser
Alina Kaiser
Katherine Rubin
Katherine Rubin
Scott Sangster
Scott Sangster
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On January 31, 2025, the Financial Statutes Amendment Act, 2024 (No. 2) (the "2024 Act") came into force, introducing a significant change to how mortgage registration levies are calculated in Alberta. The most notable change is the repeal of Section 102.1(3) of the Land Titles Act, which previously allowed borrowers, in certain cases, to choose to base levies for the registration of a mortgage on the value of the land upon which the mortgage was being registered, rather than the principal amount of the mortgage itself.

This change has serious financial implications for lenders and borrowers, particularly those involved in large or multi-jurisdictional credit facilities. It does not, however, impact mortgages where the principal amount is equal to or less than the value of the land.

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