January 13, 2025 – Over the next few days, property owners throughout Nova Scotia can
expect to receive their 2025 Property Assessment Notices.
Assessments reflect a market value as of January 1, 2024, based on market sales and
financial data, and the physical state of the property as of December 1, 2024, including
renovations and demolitions.
Assessments are determined by Property Valuation Services Corporation (PVSC), the
independent, municipally funded, not-for-profit assessment authority for Nova Scotia.
PVSC determines market value using mass appraisal, the process of valuing a group of
properties on a given date using common data, standardized methods, and statistical
testing.
"The 2025 Assessment Roll reflects steady residential market growth especially in towns
outside of the Halifax Regional Municipality," says Charlene MacNeil, Director of
Assessment. "Our analysis indicates apartment buildings and manufactured homes are a
very strong market across the province."
The total value of the 2025 Assessment Roll is $190.6 billion.
"Commercially, both vacant land and industrial parks continue to show market growth,"
adds MacNeil.
This year's rate for the provincial government's Capped Assessment Program (CAP) is 1.5
per cent, reflecting the Consumer Price Index (CPI) for Nova Scotia. The CAP limits the
annual increase in taxable assessment for eligible residential properties to no more than
the CPI rate for the year. About 67 per cent of residential assessments, 415,306 property
accounts, qualify for the CAP for 2025.
PVSC operates in accordance with the Nova Scotia Assessment Act and the Property
Valuation Services Corporation Act and follows internationally accepted standards for
mass appraisal.
PVSC representatives are available to discuss assessments and answer questions by
phone (1-800-380-7775) or email (This email address is being protected from spambots. You need JavaScript enabled to view it.). For more information, visit pvsc.ca.