Non-resident Property Tax Removed, Deed Transfer Tax Remains
The government will not be moving forward with the non-resident property tax. Premier Tim Houston announced the change today, May 5.
“My intentions all along were to improve home affordability, not to be at odds with our core value of being a welcoming province,” said Premier Houston. “I have heard for months from Nova Scotians who are concerned about housing affordability and want to be able to buy their first home. I commit to finding a tool to make it more affordable for first-time homebuyers.”
The non-resident property tax will be removed completely for all non-residents who own residential property in Nova Scotia. The non-resident deed transfer tax will proceed as planned. Both measures were introduced in the spring budget.
A Healthy Nova Scotia: Solutions for Housing and Homelessness: https://beta.novascotia.ca/documents/solutions-housing-and-homelessness/