News release

Amendment to Assessment Act

The province will continue to offer protection for Nova Scotia property owners from sudden and dramatic property assessment increases.

Jamie Muir, Minister of Service Nova Scotia and Municipal Relations, introduced an amendment to the Assessment Act, today, Nov. 8, that will extend the CAP Assessment Program.

Introduced in 2005, the CAP program is designed to help protect property owners by placing a limit, or cap, on taxable assessment increases on eligible properties.

"Many Nova Scotians have seen their property assessments increase dramatically," said Mr. Muir. "The extension of this program will enable our government to continue to provide some relief to those Nova Scotians who, through no fault of their own, have been affected by significant increases in property taxes."

As required under the original legislation, the province will consult with municipalities in the upcoming months and provide a report on the CAP program. Mr. Muir said this legislation will not affect the outcome of the review.

"It was unclear in the current legislation whether the cap program extended beyond the 2007-08 fiscal year," said Mr. Muir. "This bill removes that uncertainty. We still need to know through the review where the strengths and challenges lie in the CAP program."

More than 70,000 Nova Scotians have applied for the CAP. To be eligible, a property must meet certain criteria including ownership by a Nova Scotia resident.

FOR BROADCAST USE:

The province will continue to offer protection for Nova Scotia property owners from sudden and dramatic property assessment increases.

Government introduced an amendment to the Assessment Act today (November 8th).

Service Nova Scotia and Municipal Relations Minister Jamie Muir says an extension of the CAP Assessment Program will continue to bring relief for Nova Scotia property owners who faced significant increases in their assessments.

Mr. Muir says that, under the current legislation, it was unclear whether the Cap program would extend beyond 2007-08 fiscal year.

This amendment removes that uncertainty.

-30-

Media Contact:

Susan MacLeod
Service Nova Scotia and Municipal Relations 902-424-6336 E-mail: