NWT Land Transfer Tax

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When you a buy a house, condo or land in NWT 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 NWT's 2017 rates below and follow along with our sample calculation.

NWT land transfer tax calculator

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Provincial: Provincial Land transfer tax (LTT), typically calculated as a percentage of the purchase price of a home, is required when purchasing a home in Canada. All provinces have a LTT, and the amount varies in each province. plus
 
Municipal: Municipal Some municipalities, like Toronto, levy an additional LTT, which is similarly calculated as a percentage of the purchase price of a home. plus
 
Rebate: Rebate If you are a first-time home buyer in British Columbia or Ontario, you will be eligible for LTT rebates, equal to the value of the LTT up to a maximum amount set by the province. minus
 

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Northwest Territories land transfer tax rates – Updated in 20161

The land transfer tax in the Northwest Territories are charged on the property value and the mortgage amount. The land transfer tax rates are as follows:

On the property value Tax amount
$1,000,000 and less $$1.50 for every $1,000 or part thereof (minimum charge of $100).
Greater than $1,000,000 $1,500 plus $1.00 for every $1,000 or part thereof greater than $1,000,000.
On the mortgage amount $1.00 for every $1000 or part thereof (minimum charge of $80).

NWT land transfer tax calculation example

If you are purchasing a $1,005,500 home with a 20% down payment and $804,400 mortgage amount:

Northwest Territories land transfer tax
( $1,005,500 property value $1,000,000 lower tax bracket) ÷ $1,000 portion of value =
6 taxable portions (rounded up)
$1,500 upper marginal tax bracket ( 6 taxable portions (rounded up) $1.00 lower marginal tax bracket) =
$1,506 land transfer tax
Land transfer tax on mortgage amount
$804,400 mortgage amount ÷ $1,000 portion of value =
805 taxable portions (rounded up)
805 taxable portions (rounded up) $1.00 tax amount =
$805 land transfer tax
Land transfer tax on mortgage amount
$1,506.00 tax on property value $805.00 tax on mortgage amount =
$2,311 total land transfer tax
Source: Government of North West Territories, "Land Titles Fees"

References and Notes

  1. Source, Government of North West Territories, 'Land Titles Fees'