Halifax asks Province to review property assessment cap
Halifax Regional Council is asking the Province to review Nova Scotia’s Capped Assessment Program and work with municipalities on possible reforms. A municipal staff report concluded that the program protects long-term homeowners but has also created significant inequities and distortions within the property tax system.
Approximately 79% of taxable residential properties in HRM benefit from capped assessments, leaving the remaining 21% to carry a disproportionately higher tax burden. Properties can have substantially different tax bills despite having similar market values, depending on their ownership history and eligibility for the cap.
Rental properties do not receive the same capped-assessment protection available to qualifying owner-occupied homes. This contributes to higher and less predictable property taxes for rental housing, with those costs affecting building operations, investment and the long-term affordability of existing units.
Read the CBC News article