Does PVSC visit every property each year?
We do not physically visit every property each year. However we will review a property:
- When a property has sold
- When a building permit has been issued
- to respond to individual appeals
- At the request of a property owner
- To complete inspections through scheduled data verification programs
Why do you assess properties at market value?
The Nova Scotia Assessment Act states that properties in Nova Scotia must be assessed at market value.
Market value is considered the most equitable and widely accepted system of property assessment 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.
How can I access information about my property?
As a property owner, you may access your property information by entering your Assessment Account Number (AAN) and PIN access number (found on your annual assessment notice) using the 'Find an Assessment' tool.
This information includes: the size of the land, the building’s age and measurements, bathrooms, quality of construction, and any unique qualities your property has that may affect its market value.
Where does PVSC get its property information?
Our information is received from various sources. We receive information from the Registry of Deeds and Land Services within Service Nova Scotia and Municipal Relations, such as information on the size of the land/lot, property ownership and all sales data. We also collect information through physical inspections, Pictometry, Multiple Listing Service (MLS ). This information includes: building age and measurements, bathrooms, quality of materials used, and unique qualities a property 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.
Will my property assessment increase every year?
Your assessment could remain the same or change (either increase or decrease) to reflect your property’s market value as of two years prior to the date on your assessment notice.
Why do assessments change?
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.
We recently purchased a property for an amount that was different than its assessed value. Why would this be?
A property might sell for an amount different than its assessed value because:
- The motivations of different buyers and sellers can vary significantly. This means that when similar properties are sold during the same time frame, a range of sale prices can result and the assessment could be higher or lower than a specific selling price.
- 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.
When a property is damaged, does this impact its assessment?
PVSC assesses all property in Nova Scotia as mandated under the Nova Scotia Assessment Act. If you have specific questions relating to your assessment as a result of fire damage, flooding, etc. please contact us at 1-800-380-7775.