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General Assessment Questions
Q. Do you assess my property every year?
A. Yes. Your property is assessed every year as to enable us to reflect market trends and to more accurately account for changing market conditions.
Q. Why are assessment values based on dates two years ago? Why not base them on this year’s market value?
A. Because it takes a significant amount of time to review, analyze and interpret sales for every property that changed hands in Nova Scotia in any given year. In addition to reviewing sales, PVSC staff are also collecting accurate data on properties through the permit and building inspection process. All of this information must be fully analyzed before accurate assessments can be determined.
Q. What information can I have access to?
A. Property owners may access any of their own property information in our database. In general, this information includes: the size of the land, the building’s age and measurements, bathrooms, quality of materials used, and any unique qualities your property or house has that may affect its market value.
All of this information is available to the owners of the property. The annual assessment notice includes a Personal Identification Number (PIN) along with the Assessment Number. By entering this information at “Property Assessment Online” you can look up assessment information about your property www.nsassessmentonline.ca
Q. Can I look at other properties in Nova Scotia?
A. Yes, you can use Assessment Online to look at the market value of other properties in Nova Scotia by using the map tool or entering the property’s civic address. Please note: only the market value and civic address is accessible. Please note: only the market value and civic address is accessible. You cannot view the owner’s name or details regarding the property without the Personal Identification Number (PIN) and Assessment Number.
Q. How is my property assessment different from an appraisal?
A. A property assessment is an estimate of a property’s market value, as of a specific date in time referred to as the “base date,” typically for valuation. In Nova Scotia the base date for market value is the 1st of January two years prior to the date the annual notices of assessment are mailed.
A property appraisal is typically an estimate of a property value today. Appraisals usually apply to just one account and are not subject to mass appraisal techniques or measures.
Q. Where does PVSC get its data?
A. Information on properties is received from various sources. Property Valuation Services Corporation (PVSC) has a database in which a record is kept of every transaction received at the Registry of Deeds. As well, the database contains the characteristics of every assessable property in the province. Generally, we maintain information on the size of the land/lot, the building’s age and measurements, bathrooms, quality of materials used, and any unique qualities a property or house has that may affect its market value. If your property is under construction, a physical inspection is done to ensure that we have the most up-to-date information.
Q. Why do we assess properties at market value?
A. Properties are assessed at market value because we are legislated to do so under the Nova Scotia Assessment Act. The market value approach to assessment is the most equitable and widely accepted system in North America. Every province in Canada uses this approach, as do most assessment jurisdictions in the United States and most other countries. Market value is widely accepted for the following reasons:
- It is easily understood by most property owners
- It is a transparent process, allowing property owners to test fairness by comparing their assessment to sales of similar properties.
- Market value allows the same appraisal standards and principles to be applied to all residential properties across Nova Scotia.
Q. How do I find out more information about assessments?
A. When you receive your Notice of Assessment each January you receive a Personal Identification Number (PIN) on the notice which allows you to access detailed information regarding your own property. If you have other questions or wish to obtain more information about your property assessment, please contact the PVSC at 1-800 380-7775. Our staff will be happy to assist you.
Q. Will my property assessment increase every year?
A. Properties are reassessed annually, which means your assessment could remain the same or change (either increase or decrease) to reflect your property’s market value as of a new “base date.”
Q. Does PVSC visit every property each year?
A. We do not physically visit every property each year, however, we do schedule field visits if a property has sold, if a building permit has been issued, to respond to individual appeals, at the request of a property owner, or to complete inspections through scheduled data verification programs.
Q. Why do assessments change?
A. The most common reason for change is attributable to changes in market values in your area. Other reasons might include new construction, renovations or demolitions.
Q. What happens when I contact your office?
A. When you contact us either in person at a local office, through our web site, or via our toll free number 1-800-380-7775, we will be pleased to discuss your property assessment and any issues or concerns you have.
Q. We recently purchased a property for a lower amount than its assessed value. Why would this be?
A. There are a couple of reasons why a property might be assessed at more than its recent purchase price.
First, the motivations of different buyers and sellers can vary significantly. Therefore, when very similar properties are sold during the same time frame, a range of sale prices can result. As a result, the assessment could be higher or lower than a specific selling price. Second, market values may have changed between our base date valuation and the date you bought your property. If you would like more information about your property assessment, please contact us.
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