Property owners across Nova Scotia will soon receive their 2026 assessment notices, and this year marks a milestone: the province’s total property assessment roll has surpassed $200 billion for the first time, reaching $206.3 billion — an 8% increase over last year.
Residential properties account for $174 billion of the total, while commercial properties make up $32.2 billion.
The annual assessments, conducted by Property Valuation Services Corporation (PVSC), reflect market conditions as of January 1, 2025, and the physical state of properties as of December 1, 2025.
PVSC says growth is being driven by smaller, affordable homes such as manufactured housing, as well as multi-unit properties like apartments and condominiums, which are seeing strong demand and new construction across the province.
On the commercial side, industrial parks and vacant land are leading the way, with hospitality properties also showing notable growth in HRM and tourism destinations.
The Capped Assessment Program (CAP) rate has increased to 2.6%, up from 1.5% last year.
About 72% of residential properties — more than 416,000 accounts — qualify for the CAP, which limits how much the taxable assessed value can rise year over year. Properties are excluded from the CAP if the property is sold.
For more details or to ask questions about your assessment, visit pvsc.ca .
