{"id":8143,"date":"2025-01-13T19:22:21","date_gmt":"2025-01-13T23:22:21","guid":{"rendered":"https:\/\/www.qccrfm.com\/news\/?p=8143"},"modified":"2025-01-13T19:22:21","modified_gmt":"2025-01-13T23:22:21","slug":"property-assessments-being-mailed-to-nova-scotians-this-week","status":"publish","type":"post","link":"https:\/\/www.qccrfm.com\/news\/2025\/01\/13\/property-assessments-being-mailed-to-nova-scotians-this-week\/","title":{"rendered":"Property assessments being mailed to Nova Scotians this week"},"content":{"rendered":"
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Residential property assessment values increased by 9.5 per cent in Queens County over last year. (Rick Conrad photo)<\/p><\/div>\n

Nova Scotians should start getting their 2025 property assessments in the mail this week.<\/span><\/p>\n

Annual notices were being mailed out on Monday, according to the Property Valuation Services Corporation.<\/span><\/p>\n

It appears assessed house values have cooled a bit from the year before. Overall, total residential assessments in Nova Scotia increased by just over 11 per cent, or $16.1 billion. The value of residential properties in Queens County rose by 9.5 per cent, or $189.3 million.<\/span><\/p>\n

2024 residential assessments rose by 25 per cent in Queens County, and by 19.6 per cent in Nova Scotia as a whole.<\/span><\/p>\n

Overall, Nova Scotia commercial property assessments rose by 2.79 per cent, compared to 9.32 per cent the year before.<\/p>\n

The independent, non-profit body says 2025 assessments are based on sales and financial data and reflect a market value as of Jan. 1, 2024, and the physical state of properties as of Dec. 1, 2024, including new construction, renovations, demolitions, and impacts from natural disasters.<\/span><\/p>\n

Municipalities received the assessment roll for their region in mid-December.<\/span><\/p>\n

Jeff Caddell, director of valuation standards for the Property Valuation Services Corporation, told QCCR on Monday that<\/span>\u00a0the residential market cooled in 2023 after the Covid boom, but then rebounded later in the year.<\/p>\n

\u201cThere was still lots of demand for properties, and a lower supply of properties on the market than we had in previous years. And we saw interest rates starting to creep up in 2023 before stabilizing in the later half of 2023.\u201d<\/span><\/p>\n

Caddell said they\u2019re beginning to analyze sales data from 2024 now, so it\u2019s too early to know whether there\u2019s any kind of trend.<\/span><\/p>\n

\u201cWe\u2019re monitoring those sales coming in now. It\u2019s hard to say what the trend will be going through 2024.\u201d<\/span><\/p>\n

This year\u2019s rate for the Capped Assessment Program is 1.5 per cent, the Consumer Price Index for Nova Scotia.<\/span><\/p>\n

The CAP limits the annual increase in taxable assessment for eligible properties to no more than the annual inflation rate. About two-thirds of residential properties qualify for the CAP in 2025.<\/span><\/p>\n

People are getting their assessment notices, just as the Nova Scotia government approved changes to limit the capped assessment value of homes rebuilt after the wildfires in 2023.<\/span><\/p>\n

Premier Tim Houston announced in a news release Friday that people who have rebuilt homes destroyed in the wildfires in Halifax and Shelburne counties won\u2019t see an increase in their capped assessment.<\/span><\/p>\n

Caddell says assessors are happy to answer people\u2019s questions about their property.\u00a0<\/span><\/p>\n

\u201cThere\u2019s lots of property owners that contact us each year and it\u2019s a great opportunity to engage with the property owner and talk about the market in their area, talk about their property specifically. If we can help somebody better understand the process, then we\u2019re pleased with that.\u201d<\/span><\/p>\n

Residential and commercial property owners have until Feb. 13 to appeal their assessments.\u00a0<\/span><\/p>\n

Email: rickconradqccr@gmail.com<\/a><\/p>\n

Listen to the audio version of this story below<\/p>\nhttps:\/\/www.qccrfm.com\/news\/wp-content\/uploads\/2025\/01\/propassessmentupdatejan1325.mp3<\/a><\/audio>\n","protected":false},"excerpt":{"rendered":"

Nova Scotians should start getting their 2025 property assessments in the mail this week. Annual notices were being mailed out on Monday, according to the Property Valuation Services Corporation. It appears assessed house values have cooled a bit from the year before. Overall, total residential assessments in Nova Scotia increased by just over 11 per […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,5],"tags":[2806,2097,2803,2805,2802,241,2808,642,2807,1151,1593,186,2804],"class_list":["post-8143","post","type-post","status-publish","format-standard","hentry","category-community-news","category-news-posts","tag-assessment-roll","tag-assessments","tag-capped-assessment-program","tag-commercial-assessments","tag-jeff-caddell","tag-nova-scotia","tag-property-assessment","tag-property-tax","tag-property-taxes","tag-property-valuation-services-corporation","tag-property-values","tag-real-estate","tag-residential-assessments"],"_links":{"self":[{"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/posts\/8143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/comments?post=8143"}],"version-history":[{"count":1,"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/posts\/8143\/revisions"}],"predecessor-version":[{"id":8146,"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/posts\/8143\/revisions\/8146"}],"wp:attachment":[{"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/media?parent=8143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/categories?post=8143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qccrfm.com\/news\/wp-json\/wp\/v2\/tags?post=8143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}