Real estate impacts our province economically, environmentally and socially. From over $660 million in spin-off spending to our efforts to ensure every Nova Scotian has a place to call home, REALTORS® play a part in the success of our communities.
To learn more, or engage with NSAR as a partner, contact Paige at email@example.com
NSAR continues to work on addressing issues related to housing supply in our province with key partners.
NSAR’s submission, We All Play a Part, REALTOR® Solutions to Nova Scotia’s Affordable Housing Crisis, to Nova Scotia’s Affordable Housing Commission is focused on increasing supplies across the housing spectrum.
Improving Deed Transfer Taxes (DTT)
DTT can be an expensive addition to home buying costs, especially for first-time home buyers. REALTORS® are proposing that municipalities amend their policies for the collection of Deed Transfer Tax to either be:
Waived for first-time buyers on the purchase of their first home OR Extended over a five-year payment period.
Fixing the Capped Assessment Program (CAP)
The current CAP on property taxes has created inequalities in tax burden for homeowners across the province. New homeowners, including first-time buyers and seniors who are downsizing, pay significantly more in taxes than their neighbours. NSAR and our partners are proposing changes to the CAP. We have also partnered with other partners to create a CAP Map to demonstrate the impacts of this taxation.
Putting hammers in hands – In order to increase our housing supply, we must have enough tradespeople. NSAR is working with partners to ensure that all Nova Scotians who want to enter the skilled trades and home-building labour force have the ability to do so.
Cancellation of the Non-Resident Property Tax, After months of advocating against new taxes that would target out-of-province owners and harm rural economies, NSAR was thrilled to see the Government of Nova Scotia cancel the Non-Resident Property Tax. We applaud the Government of Nova Scotia for hearing the concerns of REALTORS® and community members about this tax.
Down Payment Assistance Program, a 10-year interest-free loan created by NSAR and Housing Nova Scotia. In 2022 purchase NSAR worked with the provincial government to increase price limits and income caps to help more Nova Scotians purchase their first home. So far, it’s helped over 860 families in Nova Scotia.
Canada Greener Homes Grant, was advocated for by REALTORS® to allow homeowners access to grants and funding to make their homes more energy efficient and keep energy costs affordable.
Home Buyers Plan withdrawal limit increased from $25k to $35k and expanded to help during marital or common-law breakdowns.