Application No Longer Needed for CAP Program
Effective immediately, eligible Nova Scotia property owners will no longer need to apply for the Capped Assessment Program (CAP).
New regulations announced today, June 15, remove the application process for property owners who qualify for the CAP.
The province established the CAP program in 2004 to protect Nova Scotia property owners from dramatic increases in the market value of properties by capping the annual taxable-assessment increase.
"In addition to making it easier for eligible property owners to be covered by this program, eliminating the application process will make implementing the program more efficient and cost effective," says Jamie Muir, Minister of Service Nova Scotia and Municipal Relations.
The regulations will ensure all Nova Scotia residents who own eligible residential or resource properties will receive the CAP.
The annual cap rate will be tied to the Nova Scotia Consumer Price Index.
For more information on the eligibility of the CAP program, visit www.nsassessment.ca .
FOR BROADCAST USE:
Effective immediately, Nova Scotia property owners will no longer need to apply for the Capped Assessment Program.
Minister of Service Nova Scotia and Municipal Relations Jamie Muir announced today (June 15th) that the new regulations will ensure all eligible property owners benefit from the program, as well as help the program be more efficient and cost effective.
More information regarding CAP eligibility can be found at www-dot-nsassessment-dot-ca.