If you own income producing property in Nova Scotia, you have less than 30 days to submit your 2021 Financial Information Request

The Property Valuation Corporation (PVSC), the body responsible for assessing all property in the Province of Nova Scotia, is preparing for the upcoming 2021 assessment year. As part of that process, PVSC has sent registered requests to most income generating commercial properties such as accommodations, retail, office, multi-residential, and other investment real estate and has delivered Requests for Information (RFI) on or about February 18^th with a 30-day response period.

What should I do next?

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 2021 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 2019; or the most recently available annual statement
• Audited financial statements are not necessary

Deadline

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 2021 assessment year.

Do you have questions or concerns about the RFI process?

Visit the PVSC website for more information or Contact our team