Nova Scotia scraps non-resident property tax to protect province's reputation

·1 min read

HALIFAX — Nova Scotia Premier Tim Houston says the government is not moving forward with a non-resident property tax because doing so would hurt the province's reputation.

Houston told reporters today after a cabinet meeting he didn't anticipate the province's reputation as a welcoming place would be put at risk due to the proposed annual tax.

The Progressive Conservatives introduced two new taxes for non-resident property owners in the recent budget as a way to encourage foreign owners to sell their homes to locals and increase the housing stock.

The annual tax forcing non-resident owners to pay $2 per $100 of assessed value of their residential properties is now cancelled.

A deed-transfer tax requiring new buyers to pay a five per cent tax if they do not move to the province within six months of the closing date will go ahead.

On Tuesday, Houston reduced the annual property tax but said today it would be lifted entirely.

The taxes, which had entered into effect April 1, drew fire from dozens of owners who testified in public hearings held last month that the measures were "unfair and discriminatory.''

This report by The Canadian Press was first published May 5, 2022.

---

This story was produced with the financial assistance of the Meta and Canadian Press News Fellowship.

The Canadian Press

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting