The Nova Scotia Assessment Act categorizes all properties into one of three possible classes. Classification is based on a property’s use, or intended use and whether it meets the requirements for the class as specified by the Assessment Act.
The three property classes are:
- Residential - includes single-family residences, multi-family residences, duplexes, apartments, condominiums, nursing homes, seasonal dwellings, manufactured homes and vacant residential land.
- Resource - includes farm property (land and building used for agricultural purposes), forest property totaling less than fifty thousand acres, land of a municipal water utility (excluding the structure), community fishermen’s service buildings occupied and used by boat owners who are licensed commercial fishermen and the land used in connection with that use.
- Commercial - includes all property except residential property and resource property. Forest property that is owned by a person who owns fifty thousand acres or more is included in the commercial classification.
It is possible for a property with several distinct uses to fall into more than one classification. For example:
- Commercial and residential space might be combined in one building.
- A property may also be a combination of residential, farm and forestland.
In these cases, we determine the share of the value of the property attributable to each class.