CAP Assessment Program (CAP)

The Cap Assessment Program (CAP) is a program designed to protect Nova Scotia property owners from dramatic increases in market value by limiting or "capping" annual taxable assessment increases in eligible properties.

Applications for the 2007 CAP Assessment Program must be received in our office by September 30 2006.

Eligibility Criteria

In order to qualify for an assessment cap, your property must:

• be at least 50% owned by a Nova Scotia resident
• be classified as taxable residential or taxable vacant resource property
• have an increase in market value assessment greater than the CAP percentage excluding any new assessment value as a result of construction or renovations to the property
• have not transferred, or if transferred, then only to certain close relatives such as a spouse, child, grandchild, great grandchild, parent, grandparent, brother or sister. The property may also be transferred to family trusts or farm cooperatives and remain eligible.

How to Apply to the CAP Program

• By filling out a CAP application and returning it to any Assessment Office.
• Property owners who may be eligible only need to complete the application once - your application is maintained for future years.
• If the property is owned by multiple owners, only one application is required on behalf of all owners and the application is maintained for future years.
• If you own more than one property, it is necessary to submit an application for each property you wish to have considered for a CAP.

Your application must be received by September 30.

What happens once you have applied?

Once we receive your application, it will be processed to determine eligibility. You will be notified of the result of your application in January 2007, when you receive your formal assessment notice.

More Information on the CAP Assessment Program

If you require further information, refer to the Frequently Asked Questions section or call us at 1-800-667-5727.