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 Sandy and Judy Hines 902-877-4668 902-489-4663 sandy@sandyhines.com |
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Property taxes in Halifax Regional Municipality (HRM) are calculated by multiplying the tax rate by the assessed value. The "assessed value" is the value put on the property by the Province and is not the real estate value such as Appraised Value or Market Value. The residential tax rate in HRM is a very complex one and varies widely throughout metro. The way it works is that a basic rate has been set for urban,suburban and rural properties. Each area then pays additional taxes depending on the services they receive. The rate for properties outside the urban area is less because they have less services. For example the tax rate for Halifax, Dartmouth, Bedford and Sackville is about $1.45 per $100 of assessment or 1.45% of assessed value. Fall River and Hammonds Plains are about $1.25 per $100 because these areas have less services. There can also be differences in rates within communities depending on the services in that particular part of the community. Some neighborhoods may have municipal water for example and others might not.
Tax rates have been either holding, dropping or rising only slightly but the assessed values have been increasing rapidly so the net effect is taxes have been increasing in HRM steadily for the past number of years. To protect homeowners a "cap" is now placed on a property so the increase in "capped" assessed value cannot be more than the rate of inflation. So now there are two assessed values to be aware of. One is the "capped rate assessed value" which the the value the current seller is taxed on. The other is "market assessed value". This is the assessed value the new owner will pay on. There can be a significant difference in these values and as a result there may be a big difference in the taxes the current owner pays and what you will pay when you take possession. Finding out what the current seller now pays is not really relevant. You will need to estimate the taxes based on the "market value assessment".
Assessed value is theoretically market value at a particular point in time but this seldom is the case. Assessments on houses in the metro area can be 100% of what they are listed for sale for or as low as 50-75% list price. The yearly taxes as of 2010 on a home based on assessed value would be on average as follows:( This will vary from house to house).
For more information on taxes in HRM go to http://www.halifax.ca/revenue/taxbill/rates.html#GR
| House
Assessed Value |
Bedford
|
Halifax
Includes Clayton Park |
Hammonds |
Fall River | Sackville | Timberlea | Dartmouth |
| Rate per $100 |
$1.45 |
$1.45 |
$1.25 |
$1.25 |
$1.45 |
$1.30 |
$1.45 |
| $100,000 |
$1,450 |
$1,450 |
$1,150 |
$1,150 |
$1,450 |
$1,290 |
$1,450 |
| $125,000 |
$1,812 |
$1,812 |
$1,437 |
$1,437 |
$1,812 |
$1,487 |
$1,812 |
| $150,000 |
$2,175 |
$2,175 |
$1,725 |
$1,725 |
$2,175 |
$1,935 |
$2,175 |
| $175,000 |
$2,537 |
$2,537 |
$2,012 |
$2,012 |
$2,537 |
$2,257 |
$2,537 |
| $200,000 |
$2,900 |
$2,900 |
$2,300 |
$2,300 |
$2,900 |
$2,580 |
$2,900 |
| $225,000 |
$3,262 |
$3,262 |
$2,530 |
$2,530 |
$3,262 |
$2,838 |
$3,262 |
| $250,000 |
$3,625 |
$3,625 |
$2,875 |
$2,875 |
$3,625 |
$3,225 |
$3,625 |
| $300,000 |
$4,350 |
$4,041 |
$3,450 |
$3,450 |
$4,350 |
$3,870 |
$4,350 |
| $350,000 |
$5.075 |
$5.075 |
$4,025 |
$4,025 |
$5.075 |
$4,515 |
$5.075 |
| $400,000 |
$5,800 |
$5,800 |
$4,600 |
$4,600 |
$5,800 |
$5,160 |
$5,800 |
| $500,000 | $7,250 |
$7,250 |
$6,250 |
$6,250 |
$7,250 |
$6,500 |
$7,250 |
| $600,000 | $8,700 |
$8,700 |
$7,500 |
$7,500 |
$8,700 |
$7,800 |
$8,700 |
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