Nova Scotia is doubling the deed transfer tax for out-of-province residential property purchasers as of April 1, 2025. The newly released 2025-26 provincial budget estimates that should yield an extra $13.2 million in tax revenue compared to 2024-25.

A 5 per cent tax on the sale value of residential properties that are no larger than a triplex was introduced for non-residents of Nova Scotia in 2022. This will now increase to 10 per cent. However, purchasers will be exempted if the property becomes their primary residence within six months of the closing of the sale.

The Nova Scotia government expects to collect roughly $14.5 million in deed transfer taxes for the 12-month period ending on March 31, and projects the new higher tax rate will bring in about $27.7 million in 2025-26. The new 10 per cent rate will not apply for purchase-and-sale agreements that are signed prior to April 1, even if the land transfer occurs after that date.