![['For the second consecutive year Amherst’s property assessments are flat like the rest of the province, meaning there might not be as much tax revenue to balance the budget.']](https://saltwire.imgix.net/assessments-3014261.jpg?cs=srgb&fit=crop&h=568&w=847&dpr=1&auto=enhance%2Ccompress%2Cformat)
AMHERST, N.S. — As has been the case for several years, property assessments in Cumberland County remain "flat."
Property owners across the county and the province have been receiving their notice of assessment in the past couple of weeks and with the exception of metro Halifax, things really haven’t changed from last year.
“It’s relatively flat across the province. We’re not seeing a lot of change in the market or a lot of movement. Most of the changes we are having are as a result of construction,” Lloyd MacLeod, senior valuation manager of the Property Valuation Services Corporation.
“It’s reflective of the economy across most of the province. Most of the increase in the Halifax area is all driven by new residential homes and residential apartments.”
He said there are numerous office vacancies in Halifax which are impacting commercial rates while the retail market is quiet across the province thanks to pressures such as online shopping.
In Cumberland County, the capped residential assessment has jumped by 1.9 per cent to $1.79 billion from $1.76 billion in 2019, while commercial is down by 2.67 per cent to $321,196 from $330,016.
Commercial properties are not capped.
MacLeod said the municipality’s residential and commercial numbers were impacted by a change of part of the Fox Harb’r resort from commercial to residential.
Within the county, MacLeod said, Springhill’s overall commercial assessment grew by 0.09 per cent and its residential dropped by 4.33 per cent. He said there were a number of demolitions in the community which impacted property values.
Parrsboro’s commercial rate jumped by 1.26 per cent and overall residential assessment was up by 1.58 per cent
In Amherst, residential capped assessment has increased by 0.4 per cent to $397.2 million from $395.6 million, while commercial assessment is up 3.98 per cent to $193,418 from $186,014. This jump in commercial assessment can be explained by a couple of expansions in the industrial park including at GFS Foods and Atlantic Windows.
Oxford saw its capped residential assessment go up 2.1 per cent, from $47.98 million to $48.90 million while commercial assessment is up 0.37 per cent to $40.95 million from $40.80 million.
MacLeod said PVSC takes into account the physical state of a property, capturing new construction, renovations, demolitions and a change in the property’s use.
People who have received their property assessment can use their PIN to go online and check out their assessment. If they have any questions, they can call 1-800-380-7775.
Property values are based on the real estate market as of Jan. 1, 2019 and a property’s physical condition as of Dec. 1, 2019.
The deadline for appeals is Feb. 13 at midnight.
Municipalities use the assessment to help set their tax rate.
The provincial assessment role grew by 2.5 per cent to $111 billion with $24.6 billion in commercial assessment, $86.7 billion in residential assessment of which $79.9 million is capped.
The Capped Assessment Program rate, which this year is one per cent, is based on the Nova Scotia Consumer Price Index as published each year for November.
