Article contentSappington asked if having deed transfer tax revenue could help leverage matching funds from other levels of government for major capital projects like sewer upgrades or a recreation facility.Article contentLivingstone said he thinks it is a fair statement overall. Very few senior government funding streams provide upfront payment, they “almost never” cover 100 per cent of project costs, and municipalities must pay their share.Article content“It’s cost recovery, and the municipality is required to bear the cost of a significant capital project upfront and then submit the claims throughout the process to receive that (senior government) funding,” he said.Article contentPeckford asked several questions about the affordability of a deed transfer tax, including whether it could deter first-time homebuyers from entering the market. Livingstone said he doesn’t believe it would cause a deterrence effect based on staff’s previous examinations of the impacts of such a tax.Article contentArticle contentArticle contentNo interestArticle contentBest said he isn’t interested in implementing the tax, noting he and some of his colleagues campaigned on that point.Article contentHe said such a tax could make it very difficult for young people to buy a house. Everybody is struggling, and he doesn’t want to throw another tax on top of that.Article contentCorkum said he also campaigned against a deed transfer tax, but “sometimes after you look at the big picture, you do have an opportunity to change your mind.” He told Best he respects his decision, “but I think you should respect mine too.”Article contentCoun. Robbie Hiltz said he campaigned against tax increases and the deed transfer tax. However, he has received more than 500 messages from people in favour of a recreation complex. On the other hand, he’s had four from people against the deed transfer tax, one from a real estate agent and three from developers.Article contentHe said he was “green” when he campaigned against the deed transfer tax, and his thinking has since changed. The municipality needs additional revenue, and he thinks it would be “stupid” not to implement the tax.Article contentArticle content“I think it’s a no-brainer that we go ahead with this,” Hiltz said.Article contentCoun. Emily Lutz said she would support the implementation of the tax. If the options were presented to the average citizen, she believes they would choose the benefits provided by a deed transfer tax.Article content“I know what most people would pick, and it would be the one that invests in our communities and builds us up as a region and as a municipality,” Lutz said. “Also, it avoids us paying a ton of interest.”Article contentPeckford said there’s no denying that extra revenue would be beneficial to the county but “raising a housing tax during an affordability crisis makes the problem worse, not better.” He said now is the time for the municipality to get creative with the resources it already has.Article content“Kings County is the only municipality in Nova Scotia without deed transfer tax. That’s not a weakness; it’s our competitive advantage,” Peckford said.Article contentSappington said she doesn’t think being the only municipality without the tax gives Kings County a competitive advantage. She said amenities and opportunities are needed to recruit and retain professionals and tradespeople and “we are shooting ourselves in the foot by not being able to have the funds to be able to invest in ourselves.”Article contentCoun. Peter Allen said without committing one way or the other, he would vote in favour of the motion because he thinks it’s important to see the draft bylaw and policy and weigh all the options before making a final decision.Article content
Help or hindrance: Deed transfer tax debate returns to Kings County, N.S., council
