Assessments rising across Cumberland
© Darrell Cole - Amherst Daily News
Property assessments across northern Nova Scotia, including Cumberland County, are continuing to increase. Total assessment in the region is $18 billion.
AMHERST – Owning property in Cumberland County is getting more expensive.
Figures released by the Property Valuation Services Corporation indicate the cost of owning residential and commercial properties in the area is going up as assessments continue to increase.
“Across Nova Scotia the overall property assessment base has grown by $5.5 billion. This can be attributed to market growth and new construction,” corporation spokesman Philip Schofield said Tuesday. “The total assessment roll across the province has grown to $95 billion, including $74 billion in residential and $21 billion in commercial assessment.”
All property assessments for 2013 are based on market value as of Jan. 1, 2011.
The provincial capped assessment program rate, set by the annual increase to the consumer price index, is 1.4 per cent.
The figures show residential assessment in the Municipality of Cumberland has increased 10.7 per cent to $1.7 billion, while commercial assessment is up 1.2 per cent to $247 million.
In Amherst, residential assessment has climbed by 3.6 per cent to $404 million with commercial assessment going up 1.2 per cent to $180 million. Springhill’s residential assessment is up by just .71 per cent to $101.6 million, while commercial assessment is up 3.7 per cent to $74 million.
Parrsboro’s residential assessment climbed to $65 million, an increase of 7.23 per cent, while the commercial assessment jumped by .8 per cent to $15.3 per cent. Oxford’s residential assessment is up 2.2 per cent to $47.2 million, while its commercial assessment is at $43 million – an increase of .5 per cent.
In the northwest region, that includes Cumberland, Colchester, Annapolis, Hants and Kings counties, assessment is up to $18 billion with residential assessment climbing from $13.7 billion to $14.8 billion and commercial assessment going up to $3.47 billion from $3.3 billion.
Municipalities use the assessment roles as part of the process for setting property taxes in the spring.
Property Valuation Services has also launched a new website at www.pvsc.ca, providing property owners with easier access to assessment information. Property owners can use their assessment account number and PIN access number to view detailed information on their individual property by accessing their ‘My Property Report.’
For more information, call 1-800-380-7775.
The appeal period for this year has been extended to 31 days. Property owners who wish to appeal their assessment have until midnight Feb.1 4 to file an appeal.