Assessment Cap Deadline Approaching

Property owners who received an assessment cap application earlier this summer are reminded that the deadline to submit their application for the program is Friday, Sept. 30.

The CAP Assessment Program, introduced with the 2005 assessment, is designed to help protect property owners from sudden and dramatic increases in market value by placing a limit, or cap, on the amount of taxable assessment increase on eligible properties. To receive a capped assessment, the property must be owned by a Nova Scotia resident and meet certain other eligibility criteria.

Property owners who applied for the CAP last year and continue to meet the residency and ownership requirements will be automatically re-considered for 2006. They do not have to reapply.

Owner-occupied condominiums are now part of the CAP program. Owners of condominiums who wish to be considered for a capped assessment must submit an application for the 2006 CAP.

Application forms are available on the website at www.nsassessment.ca or can be picked up at a local regional assessment office, Access Nova Scotia Centre, Registry of Deeds office or municipal tax office. Completed applications must be received by assessment services by Sept. 30.

For more information on the CAP program property owners can visit the website at www.nsassessment.ca/cap or call 1-800-667-5727.