Is New Brunswick's transfer tax charged on the price or the assessed value?

On the greater of the two. If you buy below assessed value — common in family sales — the 1% is calculated on the assessment, not your price, so check the property's assessed value before assuming the tax from the sale price alone.

Homeowner guide · New Brunswick

Land transfer tax in New Brunswick

New Brunswick charges a flat real property transfer tax of 1% of the greater of the purchase price and the assessed value — $3,000 on a $300,000 Moncton home, collected by your lawyer and paid when the transfer is registered. There are no brackets, no municipal add-ons, and no first-time-buyer exemption: every buyer pays the same simple 1%.

Flat rate on the greater of price or assessed value: 1%
Transfer tax on a $300,000 home: $3,000
No first-time-buyer exemption in New Brunswick: None

How New Brunswick's transfer tax works

The 1% applies to whichever is higher: what you paid, or the property's assessed value. In a hot market that's almost always the price; the assessed-value rule mainly matters on family transfers and private sales below market, where the tax is still charged on the assessment. With the tax at 1% flat, closing costs in New Brunswick stay moderate — budget the tax, legal fees around $1,200–$2,000, title insurance, and adjustments, and you're typically under 2% of the purchase price all in.

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Land transfer tax is one line on a closing bill that also includes legal fees, title insurance, and adjustments — and the rebates only help if someone remembers to claim them. Homeprint estimates your full closing bill for your province and city while you're still house-hunting, flags the first-time-buyer relief you qualify for, and keeps every closing document in one permanent vault from the day you get the keys.

Your land transfer tax and full closing costs calculated for your province — and for Toronto's double tax — before you offer
First-time-buyer rebates and exemptions surfaced automatically, so the claim happens at registration instead of afterwards
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Land transfer tax in New Brunswick — FAQ

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