If you own income producing property in Nova Scotia, you have less than 30 days to submit your 2019 Financial Information Request

The Property Valuation Services Corporation (PVSC), the body responsible for assessing all property in the Province of Nova Scotia is preparing for the upcoming 2019 assessment year.  As part of that process, PVSC is requesting financial information from commercial property owners and has delivered Requests for Information (RFI) returns to the province’s commercial property owners this week with a 30 day response period.

Owners of income producing property are subject to a mandatory information request annually in Nova Scotia.  Here are some points to consider before submitting financial information for the 2019 year:

  • We encourage you to use the approved PVSC forms appropriate to the applicable property type – apartment, office, retail, and hotel.
  • Do not include raw data such as rent rolls, balance sheet financial data, and income and expense statements, as some sources of revenue may not be pertinent to the realty in question.
  • Information must be filed as of 31 December, 2017; or the most recently available annual statement.
  • Audited financial statements are not necessary.

Failure to respond with the required information before the due date will result in the loss of the right to appeal your assessment for the 2019 assessment year. If you have any questions or concerns, please do not hesitate to contact us, it will be our pleasure to assist.

Published on February 27th, 2018 at 05:35 pm