Why is nova scotia tax so high

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Story continues below advertisement. Leave a comment Comments. Sponsored content. Flyers More weekly flyers. Murphy, Smith, Withers and Lacey a former aide to Stephen Harper all seemed dead sure of their claims, but a close look at the provincial tax report shows all four were spouting a half-truth plucked out of context.

They were also ignoring other parts of a massive, highly technical report. We are committed as always to providing free access to readers, particularly as we confront the impact of COVID in Halifax and beyond.

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Premier Tim Houston has instructed Finance Minister Allan MacMaster to implement a deed transfer tax on any property purchased by individuals who do not pay taxes in Nova Scotia. In a September mandate letter, Mr. The average size of down payments on Nova Scotia homes has soared over the past few years as the ability to work remotely during the COVID pandemic made it more feasible for Canadian and international buyers to seek homes in Atlantic Canada, where prices are more affordable than in large urban centres.

The rise in demand led to a corresponding spike in prices. Even with that price climb, Ms. Rostek said buyers from Ontario and Western Canada have been drawn to the market because they would have to pay much more for a home elsewhere. Rostek said. However, the market has simultaneously seen little increase in supply, pushing Canada Mortgage and Housing Corp.