|
 Sandy and Judy Hines 902-877-4668 902-489-4663 sandy@sandyhines.com |
|
|
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 real estate value such as Appraised Value or Market Value. The residential tax rate 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 or Bedford as of January 2008 is $1.29 per $100 of assessment compared to Halifax at $1.347 and Dartmouth at $1.333 per $100. Halifax and Dartmouth have more services than Bed ford. 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 the increase property equal to the rate of inflation. So a property may show as having an assessed value on an mls listing sheet of say $250,000 but the rate the property is taxed on may only be $220,000.
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 market value or as low as 50-75% of market value. The yearly taxes as of October 2008 on a home based on assessed value would be on average as follows:( This will vary from house to house).
Note: Tax rates taken from HRM 2007 approved tax rates. To view the actual broken down rates click here : 2007/2008 Property Tax Rates.
| House
Assessed Value |
Bedford
|
Halifax
Includes Clayton Park |
Hammonds |
Fall River | Sackville | Timberlea | Dartmouth |
| Rate per $100 |
$1.29 |
$1.347 |
$1.15 |
$1.15 |
$1.29 |
$1.29 |
$1.333 |
| $100,000 |
$1,290 |
$1,347 |
$1,150 |
$1,150 |
$1,290 |
$1,290 |
$1.333 |
| $125,000 |
$1,487 |
$1,683 |
$1,437 |
$1,437 |
$1,487 |
$1,487 |
$1,662 |
| $150,000 |
$1,935 |
$2,020 |
$1,725 |
$1,725 |
$1,935 |
$1,935 |
$1,995 |
| $175,000 |
$2,257 |
$2,357 |
$2,012 |
$2,012 |
$2,257 |
$2,257 |
$2,327 |
| $200,000 |
$2,580 |
$2,694 |
$2,300 |
$2,300 |
$2,580 |
$2,580 |
$2,660 |
| $220,000 |
$2,838 |
$2,963 |
$2,530 |
$2,530 |
$2,838 |
$2,838 |
$2,926 |
| $250,000 |
$3,225 |
$3,367 |
$2,875 |
$2,875 |
$3,225 |
$3,225 |
$3,325 |
| $300,000 |
$3,870 |
$4,041 |
$3,450 |
$3,450 |
$3,870 |
$3,870 |
$3,990 |
| $350,000 |
$4,515 |
$4714 |
$4,025 |
$4,025 |
$4,515 |
$4,515 |
$4,655 |
| $400,000 |
$5,160 |
$5,388 |
$4,600 |
$4,600 |
$5,160 |
$5,160 |
$5,320 |
© Copyright 2000 - 2010 All Rights Reserved - Sandy and Judy Hines.
All text, images and video are the original creations and the sole property
of Sandy and Judy Hines. Any duplication without permission is prohibited.
MLS®
| ||||||||||||
