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