HALIFAX - The Nova Scotia Association of Realtors wants the provincial government to back away from a plan to double the deed transfer tax for non-resident homebuyers.
Suzanne Gravel, who will assume the association鈥檚 presidency at the end of March, says the move would effectively add a 鈥渢ariff鈥 on 春色直播 buyers at a time when the country is trying to reduce interprovincial trade barriers.
The 2025-26 provincial budget would increase the tax to 10 per cent from five per cent as of April 1, with officials estimating the increase would raise an additional $13 million.
Earlier this month, Finance Minister John Lohr said the move would give Nova Scotians a 鈥渟light advantage鈥 in bidding for properties against out-of-province competition.
But Gravel says the tax increase will drive potential buyers away and reduce investment, particularly in rural areas.
She says she is scheduled to appear before a hearing of the legislature鈥檚 public bills committee on Monday, where she will voice objections on behalf of the more than 2,000 members of her association.
The deed transfer tax applies to all residential properties, or to a portion of a property considered residential with three dwelling units or less. It also applies to residentially zoned vacant land.
This report by 春色直播was first published March 14, 2025.
