Buying a home in New Brunswick? There’s one closing cost that catches a lot of first-time buyers off guard: the real property transfer tax — a one-time tax you pay when a property changes hands and the transfer is registered in your name. The good news is it’s refreshingly simple to calculate. The catch is a single rule that can quietly raise your bill, and we’ll make sure you understand it.
Here’s the short version. Everyone who buys property in New Brunswick pays a flat 1% to the province — no brackets, no tiers. But here’s the twist: that 1% is charged on the greater of what you paid or the property’s assessed value. For most purchases the price is the higher number, so 1% of your price is your answer. Let’s walk through it in plain language.
Estimates only. Rates shown are current as of June 2026. The real property transfer tax is paid in cash at closing, and the exact amount depends on your price and your property’s assessed value — always confirm the final number with your lawyer before you commit.
How New Brunswick’s transfer tax works
When you buy property in New Brunswick, the province charges a real property transfer tax — think of it as the fee for officially recording you as the new owner. According to the Government of New Brunswick, it’s due when the transfer is registered, which in practice means closing day. Your lawyer collects it and remits it for you.
The rate is wonderfully straightforward: a flat 1%. There are no brackets (unlike British Columbia or Manitoba, where different slices of the price are taxed at different rates) and no exemptions of any kind — no first-time buyer break, no rebate. Whether it’s your first home or your fifth, the rate is the same 1%.
And you pay it in cash, at closing, through your lawyer. It cannot be rolled into your mortgage, and it’s completely separate from your down payment. Budget for it early so it’s not a surprise.
The greater-of-price-or-assessment rule
Here’s the one nuance that trips people up, so let’s slow down for it.
New Brunswick doesn’t simply charge 1% of what you paid. It charges 1% of the greater of two figures:
- the purchase price (what you actually paid), or
- the property’s assessed value (the value the province assigns to the property for tax purposes).
Most of the time, the price you pay is the higher of the two, so the tax is just 1% of your purchase price — simple. But occasionally the assessed value comes in higher than your price. Maybe you negotiated a great deal, or you’re buying from family below market value. In those cases, the province taxes the assessment, not the price — so your tax would be 1% of that higher assessed value.
A quick analogy: it’s a little like the tax authority saying, “We’ll charge you on the real value of this property, and we won’t let a low price shrink the bill below what we think it’s worth.” For the typical arm’s-length purchase at market price, you’ll never notice this rule. But if you suspect the assessment might be higher than your price, check it — because it changes what you owe.
The official term for the assessed value is the figure from your property’s assessment, which you can look up through Service New Brunswick. If you’re unsure, your lawyer can confirm which figure will be used before closing.
How to use this calculator
It takes about thirty seconds:
- Enter the purchase price of the home you’re considering.
You’ll see your real property transfer tax at the flat 1% rate — the cash you’ll need at closing for this line item. Because there are no exemptions, there’s no eligibility toggle to worry about. One important caveat, covered just below: the calculator uses the price you enter. If your property’s assessed value is higher than that price, your real tax will be higher too.
Example: an $800,000 home in New Brunswick
Let’s make it concrete with an $800,000 home anywhere in New Brunswick, in the usual case where the purchase price is the higher figure.
The math is as simple as it gets:
- 1% × $800,000 = $8,000
That’s your real property transfer tax: $8,000. No brackets to add up, no exemptions to apply — just a flat 1% of the price.
Now the caveat in action. Suppose you paid $800,000 but the property’s assessed value is $850,000. Because the province taxes the greater figure, your tax would be 1% × $850,000 = $8,500 — $500 more than the calculator shows when you enter the $800,000 price. That’s the greater-of rule at work.
What this calculator doesn’t include
Not covered here:
- The greater-of-assessment adjustment. Tax shown is 1% of your price; if the assessed value is higher, real tax is 1% of that instead.
- Land registration fees. Separate charges to register documents at the Land Registry.
- Legal fees. Your lawyer’s fee for handling the purchase, varies by firm.
- Other closing costs. Title insurance, adjustments, and other costs aren’t estimated here.
Frequently asked questions
How much is the land transfer tax in New Brunswick?
A flat 1% — but charged on the greater of your purchase price or the property’s assessed value. For a typical purchase at market price, that’s simply 1% of what you paid.
What if my home’s assessed value is higher than what I paid?
Then you pay 1% of the assessed value, not the price. New Brunswick always taxes the higher of the two figures. This calculator uses the price you enter, so if the assessment is higher, your real tax will exceed the number shown here.
Are there any exemptions for first-time buyers?
No. New Brunswick offers no exemptions of any kind on its real property transfer tax — no first-time buyer break and no rebate. The flat 1% applies to everyone.
Can I add the transfer tax to my mortgage?
No. The tax is paid in cash at closing, through your lawyer, and cannot be financed into your mortgage. It’s also separate from your down payment, so set the money aside in advance.
When do I pay it?
At closing, when the transfer is registered. Your lawyer collects and remits it as part of completing your purchase.
Where can I find my property’s assessed value?
Through Service New Brunswick, which administers property assessment in the province. Your lawyer can also confirm which figure — price or assessment — will be used to calculate your tax before closing.
Sources
- Government of New Brunswick — Real Property Transfer Tax — the flat 1% rate, the greater-of-price-or-assessed-value rule, and when the tax applies.
This page is for general information, not legal or financial advice. Figures are estimates as of June 2026 and change over time — confirm the current rate, your property’s assessed value, and your situation with your lawyer.