Darrel Dexter has announced that the NDP majority government in Nova Scotia will honour it’s election promise to give a 50% tax rebate on the 8% portion of the provincial tax collected on New Home construction. The rebate will only be available to those who have a municipal building permit dated May 1st and after. The rebate is limited to a maximum of $7000 per home owner and is on a first-come first-served basis. Only 1500 of the rebates are available. The building must be completed by March 31, 2010. Mr. Dexter said that the number of rebates is capped in order to keep the program affordable. The overall costs could be as much as $10.5 million. There is another program that the federal government has where builders and homeowners can apply to have 1/3 of the federal 5% sales tax refunded.
In order to get the maximum out of the rebate you would have to buy a $200,000 home. This would represent a $7000 rebate from the provincial government and $3333.33 in federal rebates for a total of $10,333.33 off of the normal price. New construction homes that are currently listed such as This listing of ours already include the HST in the price.
If you have any questions regarding the Rebate(s) or about New Home Construction or Vacant Lots you can call myself or Dave Grace directly at 209-4836.