Nova Scotia scales back non resident property tax after criticism it was ‘unfair’
that was adopted last month as a way to ease the province’s housing crunch.
The premier says a 0.5 per cent tax will apply on the tranche of value between $150,000 and $250,000, adding that the tax will rise to two per cent of a property’s value above $250,000.Houston says active members of the Canadian Armed Forces will be exempt from paying the annual tax, as part of changes included in regulations to be released this spring.
“We are positioned to grow in every region, but we need housing,” Houston said in the news release. “This is one way our government is addressing the housing crisis and these changes respond to concerns we have heard from Nova Scotians.”
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