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Types of Assessment
As specified by the Nova Scotia Assessment Act, all properties are classified into one of three possible classes. 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 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. This includes forest property owned by a person who owns fifty thousand acres or more.
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, PVSC determines the share of the value of the property attributable to each class.
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