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Change the Assessment Act in Nova Scotia
This petition was published by Max Krebser on Oct 25, 2007
We, the undersigned citizens of Nova Scotia, hereby petition and demand of our provincial government of Nova Scotia the following:
1. That the Assessment Act be amended immediately.
2. All assessment values of all properties (residential or commercial) are returned to the levels set in the year 2000. This will form the base rate of 100%. If new construction has been erected since that time the real construction value (inclusive of the HST) is added to the assessment.
3. That assessment is based on “rebuild value” and not fluctuating speculative Market Values. The assessment values are allowed to increase or decrease every year only by the amount of inflation % calculated by Statistics Canada at Dec. 31st each year.
4. If a property is sold the capital gain between the sale price and the assessment value will be taxed at the rate of 2%.
5. If a property changes ownership within a family no capital gains tax shall be levied.
6. Periodic review of “rebuild value” is made every 10 years to take into account any new building improvements or building removal.
1. That the Assessment Act be amended immediately.
2. All assessment values of all properties (residential or commercial) are returned to the levels set in the year 2000. This will form the base rate of 100%. If new construction has been erected since that time the real construction value (inclusive of the HST) is added to the assessment.
3. That assessment is based on “rebuild value” and not fluctuating speculative Market Values. The assessment values are allowed to increase or decrease every year only by the amount of inflation % calculated by Statistics Canada at Dec. 31st each year.
4. If a property is sold the capital gain between the sale price and the assessment value will be taxed at the rate of 2%.
5. If a property changes ownership within a family no capital gains tax shall be levied.
6. Periodic review of “rebuild value” is made every 10 years to take into account any new building improvements or building removal.
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