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Councillors Applaud CAP Program Extension
(Wednesday, November 8/06)-- Councillors Linda Mosher and Gloria McCluskey today welcomed the announcement that the Province will continue to offer protection for property owners from sudden and dramatic property assessment increases. Service Nova Scotia and Municipal Relations Minister Jamie Muir introduced an amendment to the Assessment Act in the Legislature today that will extend the CAP Assessment Program. Introduced in 2005, the program is designed to help protect property owners by placing a limit, or cap, on taxable assessment increases on eligible properties. The two HRM Councillors said the Province should be commended for providing much-needed relief to many property owners in their Districts.
Councillor Mosher said " Because assessment is based on market value of homes, the sale of new or newer houses in established neighbourhoods is driving up the assessed value of the other homes in a neighbourhood. That is why many people receive their assessments and say how can my home value go up another 25% this year when I did nothing to improve my property? That is why keeping the CAP program is so important-- at least provides some predictability for those property owners.."
Councillor McCluskey, a former senior provincial assessment official, said "There has to be a limit. I have many property owners in my District on fixed income. They’ve worked hard all their lives and paid off their mortgages while they were working-- only to find now that they are being taxed out of their homes by rising assessments every year. Thankfully, the CAP program is helping some of them."
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.
Councillor Linda Mosher
Councillor Gloria McCluskey