New Brunswick Land Transfer 2024
New Brunswick Flag New Brunswick Land Transfer Tax
The Land Transfer Tax for New Brunswick was introduced in 1983, under the Real Property Transfer Tax Act. The tax applies to all legal property including mobile homes. In New Brunswick, the Land Transfer Tax is merely 1% of the greater of the assessed value of the property or consideration for the transfer for all property with a transfer registration date after April 1, 2016. If registered between June 1, 2012 and March 31, 2016, you will be taxed at a rate of 0.5%. If registered prior to June 1, 2012, the tax rate is 0.25%. The assessed value of the property is determined by the real value of the property at the time of registering the transfer. There are no rebates for first-time home buyers.
New Brunswick Land Transfer Tax Calculator
Our calculator uses the most recent rate of 1% . If your property transfer was registered before April 1st, 2016, check the rates in our table below.
Exemptions from the Land Transfer Tax
You may be exempt from paying the Land Transfer Tax if:
- Your transfer is for a lease that lasts for under 25 years
- The property is transferred between executor to a beneficiary under a will
- If the property is transferred between spouses
- If the property is transferred to a Crown Corporation
- If the property was transferred to pay off a loan or debt
Other conditions may also apply, and details can be found by contacting your nearest Land Registration Office.
Comparison of New Brunswick Land Transfer Taxes with Other Provinces
New Brunswick Land Transfer Tax Rates
The Land Transfer Tax in New Brunswick is a flat rate, meaning the rate doesn't increase as the property value rises. For properties that were transferred after 2016, there is a 1% transfer tax. Each year, Service New Brunswick (SNB) assesses all real property in the province to determine the value. The tax is then calculated by multiplying the property's assessed value by 1%. For example, if the property is assessed at $300,000, the fee would be $3,000 (300,000*0.01). There are no exemptions for first-time home buyers, and no rebates are available.
| Condition | Tax Rate |
|---|---|
| If the property transfer was registered before June 1, 2012 or the sale agreement was signed before March 28, 2012 | 0.25% |
| If the property transfer was registered between June 1, 2012 and March 31, 2016 or the sale agreement was signed before February 3, 2016 | 0.5% |
| If the property transfer was registered on or after April 1, 2016 | 1.0% |
Who Pays Land Transfer Tax in New Brunswick?
The purchaser of the property pays the Land Transfer Tax. If more than one person is purchasing the property, they will need to agree on who will pay the tax.
How to Pay the Tax
The tax is paid when the title to the property is transferred. There are multiple methods to pay your New Brunswick Land Taxes, including:
- Credit Card (Visa, MasterCard, Amex, Union Pay, PayPal)
- Monthly payment plans
- E-Debit
- Cheque (Payable to the Minister of Finance and Treasury Board, make sure your property account number is on the cheque)
- General Banking (online, telephone, teller, or ATM).
- By mail (Department of Finance and Treasury Board, P.O. Box 100, Fredericton, N.B. E3B 1B0)
What Happens If You Don't Pay?
If you don't pay the Land Transfer Tax when you transfer the property, you will be charged interest and penalties. The monthly penalty is 0.7591% on the balance due or 9.50% annually.
Visit our Canada Land Transfer Tax page to find out more information about land transfer and other taxes accross Canada.
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