Hot housing market a factor in soaring Cape Breton property assessment values, report finds | SaltWire

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

A hot housing market, along with a rise in commercial construction projects, have translated into soaring property values across Nova Scotia, says an independent, non-profit authority responsible for assessing all property in the province. | SaltWire

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

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hot housing market a factor in soaring Cape Breton property assessment values, report finds | SaltWireSYDNEY, N.S. — A hot housing market, along with a rise in commercial construction projects, have translated into soaring property values across Nova ...
Source: SaltWire Network - 🏆 45. / 63 Read more »