Did you know that Manitoba's Land Transfer Tax is one of the highest in Canada?
As of June 2010, the average sale price in Winnipeg is $233,567, earning the province $2,391 in land transfer tax for each home sold at this price. Winnipeg Realtors have a campaign to pressure the provincial government into changing its land transfer tax and making it easier for first time home buyers as well, to keep people in Manitoba. To read more about this issue and the campaign go to: www.2muchltt.com
The tax rate in Manitoba is $69 flat fee up to $30,000, 0.5% for the portion of the selling price between $30,000 & $90,000, 1% between $90,000 & &150,000, 1.5% between $150,000 & $200,000 and 2% on everything above $200,000. The land transfer tax on a $300,000 home in Manitoba would cost you $3,720. That certainly puts a dent in the down payment you were planning to put towards your home purchase.
Lets take a look at what our two neighbouring provinces pay for the same priced home:
A home purchased for $200,000 would cost you the following in land transfer tax:
In Manitoba $1,720 land transfer tax.
In Alberta $75 land transfer tax.
In Saskatchewan $600 land transfer tax.
As our average home price in Manitoba continues to grow so does the amount the province collects in land transfer tax. For example, in 2007 the province collected $38.2 million and by 2009 that number jumped to $49.6 million. If this doesn't sit well with you, call or email your provincial member of the legislative assembly and let them know your thoughts. If you're not sure who that may be, go to, www.gov.mb.ca/legislature/members/alphabetical.html