Premier Tim Houston announced today that his government will no longer be pursuing the non-resident property tax which has faced much criticism since it was first announced as part of the budget.
“My intentions all along were to improve home affordability, not to be at odds with our core value of being a welcoming province,” said Premier Houston. “I have heard for months from Nova Scotians who are concerned about housing affordability and want to be able to buy their first home. I commit to finding a tool to make it more affordable for first-time homebuyers.”
When first announced the tax would have imposed a 2 per cent tax rate per $100 assessed on all properties owned by non-residents.
On Tuesday, the province announced changes to the initial plan, instead proposing a tiered tax that was intended to offer relief to non-resident property owners with modest homes and cottages.
However, those changes appear to have been in vain with the province opting to scrap the tax altogether just two days later.
The non-resident deed transfer tax will proceed as planned.
