HRM INCREASING DEED TRANSFER TAX TO 2%???

"If you're buying, you know, a $2-million property, I think you can afford a higher tax rate than if you're paying $400,000 for a pretty modest side of a duplex," Austin said." 

~ CBC News, Haley Ryan, posted Sept 15,2025 quoting Dartmouth Councillor Sam Austin

It's official... the 2025 Fall season has started and as of Sept 25, across Nova Scotia, there have been 10,215 MLS listings of all classes sold so far this year. In other words, the average has been 1135 solds per month over the last 9 months. Where are people buying and investing? The real estate market has been moving across the province with approx 43% of the sales in HRM, 15% in AVNS, 15% in the northern region, 11% on the south shore and the remaining approx 16% in the rest of the province.  

Interesting to note that according to NSREC, the Nova Scotia Real Estate Commission, there are more than 2100 licensed agents and brokers. Even more interesting is $4,181,917, 009...  over $4 Billion... the total volume of MLS multi-class firm sales across Nova Scotia in the last 9 months has generated over $50 million in deed transfer tax for 49 municipalities. That number should actually be higher but for the 10% provincial non-resident levy tax that has hampered sales, though I am ever hopeful that it will be removed. But now HRM is looking at increasing our 1.5% deed transfer tax rate, possibly to 2%! Do buyers have an extra $2500. (at least) on top of their down payment? 

Dartmouth Councillor Sam Austin seems to be leading charge, which is ironic since part of his 2024 election platform included affordable housing. If he is pushing the Manitoba deed transfer system, he needs to understand that he is effectively demanding that buyers come up with at least $2500. more cash to buy a house or condo in HRM. This also takes away from their down payment! Only 75 single family homes and condos have MLS sold under $200,000 in HRM since Jan 1, 2024 (32 this year) and less than 3.7% of the single family and condo market has MLS sold under $500,000 since Jan 1, 2024. 

 https://www.cbc.ca/news/canada/nova-scotia/halifax-deed-transfer-tax-major-projects-1.7632686

The deed transfer tax is paid to the municipality. It is the closing tax for Nova Scotia residents, the tax rate is different in each municipality and it ranges between 1-1.5%. More than 50% of the 49 municipalities charge 1.5%.

Here are some examples according to WOWA based on a $500,000 purchase price for comparisons to HRM;

HRM $7500.

Alberta $420.!

Vancouver $8000

Manitoba $7774.00

Saskatchewan $2000.

Toronto $12,950

'Outside Toronto' $6475.

Montreal $5733

Quebec City $5733

New Brunswick $5000.

PEI $5000.

NFLD $3,796.

The Sept 15, 2025 CBC article includes British Columbia's 2 tier system (2% for properties between $200,000 - $2m and 5% for those over $3m!)  and Manitoba's tiered tax system which breaks down as follows;

 first $30,000 rate 0%

next $60,000 rate 0.5%

next $60,000 rate 1.0%

next $50,000 rate 1.5%

Amounts over $200,000 rate 2.0%! 

Again, less than 3.7% of properties have MLS sold under $500,000 in the last 2 years and less than 1% (75 properties) have sold under $200,000 in HRM. 

Nova Scotia is growing across the province with HRM as a strong healthcare, cultural and lifestyle provider and an enriching and supportive business, educational and financial anchor from which all Nova Scotians benefit. Growth is in inevitable but it has its tipping point. 

I hope this months newsletter inspires you to contact your local councilor. 

In the meantime, Happy Fall! So much to be grateful for. 

All the Best,

Michele