OXFORD – The last municipal hold out to not set a deed transfer tax in the region could fall in line with the rest of the county.
The Town of Oxford will have the first reading of the proposed deed transfer tax at its next regular meeting which, if approved, could provide the community an extra $15,000-$20,000 annually.
No rate has been proposed yet, but municipalities in Cumberland County already with a deed transfer tax in place vary from 0.5 per cent to 1.5 per cent, or $15 per thousand dollars.
If approved – following public input and a second reading – Kings County, Hantsport, Kentville and Barrington District will remain the last communities in the province to not implement rates.
Municipal Deed Transfer Tax rates
Town of Amherst – 1.25%
Municipality of Cumberland County – 1.5%
Town of Parrsboro – 1%
Town of Springhill – 0.5%
Source: Service Nova Scotia