Take Advantage of This Window to Address Property Tax Concerns
The Nova Scotia Property Valuation Services Corporation (PVSC) has released preliminary assessment values for the 2026 taxation year for selected commercial and residential properties. This year, the number of commercial values released is fewer than expected. The PVSC must finalize assessed values for all properties by early December and will send formal notices to property owners on January 12, 2026.
While taxpayers have until February 12, 2026 to file formal appeals, the published preliminary values provide an opportunity to address valuation concerns quickly and efficiently before the assessment roll is finalized. However, taxpayers only have until the end of November to engage with PVSC assessors.
How to Find Your Preliminary Valuation
Taxpayers can access the 2026 preliminary assessment valuation and calculation for their property (if available) at the following link: https://webapi.pvsc.ca/MyPropertyReport. You will need the account number and PIN provided on your 2025 property assessment notice.
What Changes Are Expected for 2026?
Based on a sample of client properties reviewed by Ryan, average valuation changes are estimated below:
- Assessed values for retail assets have risen with inflation over the past several years. This year, however, preliminary values show significant increases, due in part to increased rents applied by assessors.
- While assessments for office properties have remained largely stagnant, preliminary values show increases of close to 12% this year. Allowances for vacancy have also been reduced, particularly in downtown areas.
- Hospitality values continue to experience strong year-over-year growth based on improving fundamentals. Once again, assessments are increasing by double digits in this sector.
- Assessed values for industrial properties continue a strong upward trajectory, with average increases of 13%. Assessments for properties in the Burnside area have risen by up to 17% over 2025 levels. Although industrial fundamentals are softening, this reality only became evident after the legislated valuation date—January 1, 2025 for the 2026 cycle in Nova Scotia.
- Assessment increases for multi-residential properties are less extreme than in prior years, reflecting a softening of the market.
Anticipated Assessment Value Increases for 2026
Retail: +6.7%
Office: +11.8%
Hospitality: +12%
Industrial: +13–17%
Multi-residential: +8.7%
Potential Tax Saving Opportunities
When identifying potential property tax saving opportunities, an unexpected change in assessed value is one indicator, but it is also important to consider other variables—such as chronic vacancy and collection loss, physical changes, and external market factors—which may negatively impact your property’s value. Capitalization rates used to determine the assessed value should be analyzed to determine if they account for the risks associated with a property’s income stream, as well as the higher interest rate environment which impacted values in 2023 and 2024.
How Can Ryan Help?
Our Halifax-based property tax team has unparalleled expertise in Nova Scotia’s market and property value assessment methods, as well as extensive experience in challenging valuations, pre-negotiating assessments, and managing the appeal process. Our experts will work with you to identify appeal opportunities and ensure you don’t pay more property tax than necessary.