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Nova Scotia scraps non-resident property tax

The five per cent deed transfer tax remains in effect
040419-real estate-for sale-realtor
(stock photo)

Nova Scotia is scrapping its newly introduced non-resident property tax.

The measure announced in the spring budget saw non-resident property owners to pay $2 per $100 of assessed value of their residential properties.

Just two days ago, amendments were announced to that tax, but now Premier Tim Houston says it's being removed altogether.

On Thursday Houston said the measure was meant to be a tool to make home affordability a reality in Nova Scotia.

"That was never meant to be at odds with the core value of our government, the core value of our province, which is being more welcoming," he explained Thursday. "So today, I'll put my personal pride to the side."

He added he's still committed to finding other solutions to the province's housing problem.

The five per cent deed transfer tax remains in effect for non-residents who do not move to the province within six months of their closing date.

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