CBRM’s increased commercial activity — including the construction of the NSCC Sydney Waterfront Campus on the go — “would have a big impact on the increase in the overall commercial ," said PVSC's Lloyd MacLeod. IAN NATHANSON/CAPE BRETON POSTSYDNEY, N.S.
From 2015 onward, according to PVSC, overall residential assessment values throughout the province have only risen by between 1.34 per cent and 3.59 per cent from preceding years, with values ranging from $79.8 billion in 2015 to $89.6 billion in 2021. That, he believed, best explained why overall 2023 residential assessment values soared to $120.6 billion, a 21.14 per cent jump compared to 2022, while residential-with-CAP values rose to $100 billion, an 11.85 per cent increase from the previous year.
PVSC's 2023 assessment values by Cape Breton municipalities. Values include market and new growth and taxable and exempt accounts. CONTRIBUTED/PVSC - CONTRIBUTED But he noted that CBRM’s increased commercial activity — with the Cape Breton Health Care Redevelopment projects and the NSCC Sydney Waterfront Campus under construction — “would have a big impact on the increase in the overall commercial for that municipality ,” he said.Pandemic impact difficult to quantify