Calculate the real property transfer tax on your home purchase in New Brunswick. New Brunswick charges a straightforward flat rate of 1% on the assessed value of the property, making it one of the simpler land transfer tax calculations in Canada.
New Brunswick Land Transfer Tax Rate
New Brunswick charges a flat real property transfer tax of 1% on the assessed value of the property.
| Assessed Property Value | Tax Rate |
|---|---|
| All values | 1.0% |
How to Calculate New Brunswick Transfer Tax
The calculation is straightforward — multiply the assessed property value by 1%.
Example: For a property assessed at $250,000:
- $250,000 x 1% = $2,500
Note that the tax is based on the assessed value determined by Service New Brunswick, which may differ from the purchase price.
First-Time Homebuyer Programs
New Brunswick does not currently offer a first-time homebuyer exemption for the real property transfer tax. First-time buyers can take advantage of federal programs including:
- Home Buyers’ Plan (HBP): Withdraw up to $60,000 from your RRSP tax-free for a first home purchase
- First Home Savings Account (FHSA): Save up to $40,000 tax-free for your first home
- Home Buyers’ Tax Credit: Federal non-refundable tax credit of up to $1,500
Other Closing Costs in New Brunswick
The real property transfer tax is just one of several closing costs when purchasing a home in New Brunswick. Other expenses include legal fees, title insurance, home inspection fees, property tax and utility adjustments, and mortgage default insurance if your down payment is less than 20%. New Brunswick’s relatively affordable housing market means closing costs are generally lower here than in larger provinces, but it is still important to budget for them. Use our closing costs calculator to estimate the total cost of buying a home in New Brunswick, and our mortgage calculator to calculate your expected monthly payments.
Land Transfer Tax in Other Provinces
Land transfer tax rates and rules vary across Canada. See our Land Transfer Tax Calculator for a complete comparison of rates in all provinces and territories.
NB Transfer Tax by Home Price
| Purchase Price | Assessed Value | Transfer Tax (1%) |
|---|---|---|
| $200,000 | $190,000* | $1,900 |
| $250,000 | $240,000* | $2,400 |
| $300,000 | $285,000* | $2,850 |
| $350,000 | $330,000* | $3,300 |
| $400,000 | $380,000* | $3,800 |
| $500,000 | $470,000* | $4,700 |
*Assessed values are set by Service New Brunswick and typically run below market price. Your actual tax will be based on the assessed value on file at time of transfer, not the purchase price.
NB vs Atlantic Provinces
| Province | Tax Rate | Tax on $300K Purchase | Notes |
|---|---|---|---|
| Newfoundland | 0.4% | ~$1,200 | Lowest in Atlantic Canada |
| New Brunswick | 1% of assessed | ~$2,850 | Based on assessed, not purchase price |
| PEI | 1% | $3,000 | Based on purchase price; FTB exemption under $200K |
| Nova Scotia | 1.5% (Halifax) | $4,500 | Municipal rate; Halifax is highest |
Total Closing Costs in New Brunswick
Here’s a typical closing cost estimate for a $300,000 home in New Brunswick:
| Closing Cost | Estimated Amount |
|---|---|
| Real property transfer tax | ~$2,850 |
| Legal fees | $1,000–$1,500 |
| Title insurance | $150–$300 |
| Home inspection | $400–$600 |
| Property tax adjustment | $500–$1,500 |
| Moving expenses | $500–$2,000 |
| Total estimated closing costs | $5,400–$8,750 |
Budget approximately 2%–3% of the purchase price for total closing costs in New Brunswick.
Key Difference: Assessed Value vs Purchase Price
Unlike Ontario and BC where transfer tax is based on the purchase price, New Brunswick bases the tax on the assessed value from Service New Brunswick. This often results in a lower tax than if it were calculated on the actual sale price. However, if the assessed value is higher than the purchase price (rare, but possible in declining markets), the higher assessed value applies.
Your lawyer will confirm the assessed value before closing. If you believe the assessment is incorrect, contact Service New Brunswick — but note that assessment disputes generally cannot delay a closing.