Senior Director, Property Tax
The Nova Scotia Property Valuation Service Corporation (PVSC) has published preliminary values that it intends to use for next year’s assessment cycle. Although preliminary values that are published as of this date are subject to change, this is an opportunity to review next year’s proposed assessment valuation for budgeting purposes, and is an opportunity to bring forward certain issues that may reduce the assessed value of your property. In some instances PVSC is open to negotiating or addressing valuation issues before the assessment for your property is officially published in January 2018.
- Some asset classes such as hotels are forecasted to increase substantially while other assets such as office are expected to remain flat or decrease slightly.
- Regardless of the value change over last year, there may be variables such as chronic vacancy, external market factors, or physical attributes of the property that warrant a further reduction of the assessed value.
- It has been our experience that the tax consultants at Altus Group are able to achieve much better results negotiating with individual assessors over the preliminary review period. There is significantly more resistance at the formal appeal process after values are officially published.
The preliminary consultation process is an opportune time to manage your property taxes for the upcoming year. If we are unable achieve a settlement during this period, we can always appeal the assessment once it is published. If you have any questions or concerns, please do not hesitate to contact us, it will be our pleasure to assist.