Land Transfer Tax. What is it? Who pays it?
Land transfer tax is also known as the Home Buyers’ Tax which is put in place by the provincial Government. Anyone buying a home will be paying this tax. The amount is determined by the price of the home purchased. Manitoba has a title registration fee of $70.00 which is not included when calculating the land transfer tax.
Land transfer tax is calculated as follows:
| Value of Property | Rate___ |
| <$30,000 | 0% |
| $30,001-$90,000 | 0.5% |
| $90,001-$150,000 | 1% |
| $150,001-$200,000 | 1.5% |
| >$200,000 | 2% |
For example: A home purchased for $257,000, would be calculated as such: