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When you a buy a house, condo or land in New Brunswick you are subject to land transfer tax which is due upon closing. Use Ratehub.ca’s calculator to determine your applicable land transfer tax or view New Brunswick's current rates below and follow along with our sample calculation.
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The New brunswick land transfer tax rates are as follows:
Land transfer tax | First-time home buyer rebate |
---|---|
1.00% of your property's assessed value or 1.00% of the purchase price, whichever is greater of the two values. | There is no land transfer tax rebate in New Brunswick. |
Let’s assume you are purchasing a house assessed to be worth $100,000, but your purchase price was $90,000. Since the assessed value is the greater of two values in this example, it will be used to calculate your land transfer tax.