Nova Scotia Property Assessments Top $206 Billion as Multi-Unit Growth Continues
Nova Scotia’s 2026 assessment roll reached a record $206.3 billion, reflecting an 8% year-over-year increase, with continued growth in apartments, condominiums, and other multi-unit residential properties driven largely by new construction across the province. Multi-unit growth is no longer concentrated solely in Halifax, with expansion occurring in regional municipalities as well.
For residential properties, total assessed value rose to $174.0 billion, while adjusted residential assessments with the Capped Assessment Program (CAP) applied totaled $125.6 billion. Approximately 72% of residential accounts (over 416,000 properties) qualify for CAP protection in 2026, limiting annual taxable assessment increases to 2.6%, up from 1.5% in 2025.
From a rental-housing perspective, the data underscores a growing divergence between capped residential properties and uncapped multi-unit and income-producing buildings, which continue to absorb full market assessment increases. As multi-unit supply expands—particularly purpose-built rental—these properties remain fully exposed to assessment growth, compounding cost pressures when combined with rising municipal tax rates, utilities, and operating expenses.
PVSC reports that higher-value residential properties in Halifax are increasing at a slower rate, while condos, apartments, and duplexes are among the strongest-growing segments provincewide, reflecting sustained demand for rental housing. Commercial assessments also rose (+6%), with land values in HRM showing notable gains.
The 2026 roll highlights the increasing importance of assessment policy alignment with housing affordability objectives, particularly as municipalities rely on growing assessment bases while rental providers face constrained revenue growth under rent regulation frameworks.
View municipal assessment tables at 2026 Assessment Roll Tables