Assessing the assessments: questions, concerns about soaring N.S. property values
It appears a growing number of Nova Scotians are dealing with some confusion and sticker-shock over their upcoming property taxes.
Value assessments for the province's 647,000 properties are in the mail this week, with increases of nearly 18 per cent overall.
Although taxes are capped province wide, increased values will mean bigger bills.
The numbers are calculated by Property Valuation Services Corporation (PVSC), which provides property assessment services and information for Nova Scotia’s municipalities and property owners in accordance with the Nova Scotia Assessment Act.
Officials have said the hot real estate market is generally the reason behind the increases.
“It's a continuing trend from what we saw from the market in 2021 and moving into 2022," Jeff Caddell, PVSC's assistant director of operations, told CTV News Tuesday.
But questions are being asked about how the numbers are calculated.
“We have properties for example that are being assessed at 'Fair Market Value,' such as cemeteries and graveyards across the province, but it's not developable land," said HRM Councillor Pam Lovelace, who noted wildfire victims in her riding of Hammonds Plains face drastically different assessments depending on whether they'd rebuilt homes that had been destroyed.
“Now, for people who rebuilt, and rebuilt quickly, as of Dec. 1, if there was a structure on that previously burned out property, then PVSC would elevate that property assessment based on the new construction," she said.
Questions about values for graveyards were among the questions by Halifax regional councillors Tuesday when PVSC appeared before council.
But it's not just Halifax.
Realtor Kristopher Snarby compiled a list of assessments on a single street in his community of Liverpool.
Increases ranged from five per cent to 90 per cent.
"There's no rhyme or reason for what's happening. They'll say one thing and then these results show that's not being applied," said Snarby. "It's like at Christmastime, you're opening a gift and you don't know what you're going to get and everybody opens those envelopes and you have no idea what you're going to be slammed with."
Elizabeth Smith-McCrossin, the Independent MLA for Cumberland North, told CTV News she'd like an emergency debate on the matter in the legislatures to clarify the rules for PVSC.
"Absolutely. When you're looking at, an on average, 36 per cent increase across the province on property valuations, it's an emergency for the taxpayers," she said. "People are going to see an increase in their property taxes, and people simply can't afford it."
For more Nova Scotia news visit our dedicated provincial page.
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