Non-Resident Tax to Greatly Increase Homeownership Costs in Nova Scotia
We were informed this afternoon in a news release from the Nova Scotia Assocation of Realtors regarding the new tax rules that will significantly increase costs for home buyers who are not residents of Nova Scotia.
The directly quoted news release from NSAR is included below:
"Budget 2022/2023 – New taxes that impact your clients
This afternoon the Provincial Government released a budget that included newly created Deed Transfer Taxes and increased Property Taxes for out-of-province buyers and owners. NSAR has continually expressed concerns that the increased taxes will have unintended and negative consequences on Nova Scotia’s economy, tripling owners' taxes and…
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