Deed transfer tax of one per cent to be phased in

Staff ~ The Truro Daily News
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TRURO - A public outcry against the proposed doubling of the deed transfer tax for Colchester County homebuyers swayed the minds of county councillors last night.
The county was considering doubling the tax from .5 to one per cent, beginning today. After almost three hours of debate and numerous people from the real estate community saying the increase, and the quick implementation of it, would hurt the homeowner and industry, council ended up voting unanimously to increase the tax to .75 per cent beginning Sept. 15, 2009 and then going to one per cent on Jan. 1, 2010.
For a debate and reaction story, see Saturday's Truro Daily News.


Organizations: Truro Daily News

Geographic location: Colchester County

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