Is the New Brunswick transfer tax based on the purchase price or the assessed value?

This answer covers the law of New Brunswick.

Both figures matter, because New Brunswick taxes whichever is higher. For deeds tendered on or after April 1, 2016, the Real Property Transfer Tax is 1% of the greater of the consideration for the transfer or the assessed value of the real property. A price below the assessment does not lower your tax.

Assessed value means the value of the property at the time the deed is registered, taken or extrapolated from the current assessment list. For example, a $300,000 price on a property assessed at $250,000 gives $3,000 in tax, while a $200,000 price on the same assessment gives $2,500. The tax is rounded to the nearest dollar, with fifty cents treated as one dollar. It is payable by the person who tenders the deed and must be paid before the deed is registered.

Some exceptions apply. For a partial interest, the transferred share's percentage is applied to the assessed value. Certain instruments, such as wills, leases under 25 years and transfers to registered charities, carry no transfer tax, and the Act as read has no first-time buyer exemption. Older agreements signed before specified dates keep lower earlier rates. A lawyer can confirm which rule fits your purchase.