Nova Scotia real estate agents want the provincial capital to reduce planned increase in deed transfer tax
Suzanne Gravel, who will hold the association’s presidency at the end of March, said the move would effectively increase “tariffs” for Canadian buyers, while the country is trying to reduce inter-provincial trade barriers.
As of April 1, the provincial budget for 2025-26 will increase from 5% to 10%, and officials estimate the increase will increase by $13 million.
Earlier this month, Treasury Secretary John Lohr said the move would give Nova Scotians a “slight advantage” in bidding for competitive real estate.
But Gravel says that increasing taxes will drive potential buyers and reduce investment, especially in rural areas.
She said she plans to make an appearance at a hearing on the Legislature’s Public Bills Committee on Monday, where she will express her dissent on behalf of more than 2,000 members of her association.
The Deed Transfer Tax applies to all residential properties, or to a portion of a property deemed to have three or less residential properties. It also applies to vacant lands where it lives.
This report by Canadian media was first released on March 14, 2025.
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Last modified: March 14, 2025
