Calculate the real property transfer tax on your home purchase in New Brunswick. New Brunswick charges a flat rate of 1% on the greater of the purchase price or 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’s Real Property Transfer Tax Act charges a flat real property transfer tax of 1% on the greater of the consideration (purchase price) for the transfer, or the assessed value of the property.
| Basis | Tax Rate |
|---|---|
| Greater of purchase price or assessed value | 1.0% |
How to Calculate New Brunswick Transfer Tax
The calculation is straightforward — multiply the higher of the purchase price or the Service New Brunswick assessed value by 1%.
Example: For a property purchased for $250,000, where the assessed value on file is lower:
- $250,000 x 1% = $2,500
If the assessed value happens to exceed the purchase price, the tax is calculated on the (higher) assessed value instead. In most transactions in a rising or stable market, the purchase price is the greater of the two figures, so the tax works out to 1% of what you paid.
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 Purchase Price
| Purchase Price | Transfer Tax (1%) |
|---|---|
| $200,000 | $2,000 |
| $250,000 | $2,500 |
| $300,000 | $3,000 |
| $350,000 | $3,500 |
| $400,000 | $4,000 |
| $500,000 | $5,000 |
This table assumes the purchase price is the greater of the purchase price and the Service New Brunswick assessed value, which is typical for most sales. Your lawyer will confirm the exact figure used at closing.
NB vs Atlantic Provinces
| Province | Tax Rate | Tax on $300K Purchase | Notes |
|---|---|---|---|
| Newfoundland | Tiered fee (~0.4% effective) | ~$1,200 | Lowest in Atlantic Canada |
| New Brunswick | 1% of greater of price/assessed value | $3,000 | Effectively the purchase price in most sales |
| PEI | 1% | $3,000 | First-time buyers fully exempt, no price cap |
| 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 | $3,000 |
| 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 | $5,550–$8,900 |
Budget approximately 2%–3% of the purchase price for total closing costs in New Brunswick.
Key Point: Greater of Assessed Value or Purchase Price
Under the Real Property Transfer Tax Act, the tax is calculated on whichever is greater: the purchase price (consideration) you agreed to pay, or the property’s assessed value from Service New Brunswick. This means the tax cannot be reduced simply because a property’s older assessed value is lower than what you paid — the higher purchase price governs in that case. It only works the other way (tax based on the assessed value) if the assessment happens to exceed the sale price, which is uncommon but can occur in a declining market or with an unusually low negotiated sale price.
Your lawyer will confirm the assessed value before closing so you know which figure applies. If you believe the assessment is incorrect, contact Service New Brunswick — but note that assessment disputes generally cannot delay a closing.