On Dec. 16 it was reported properties owned by Nova Scotia Power Inc. (NSPI) were reassessed at the request of Union of Nova Scotia Municipalities. Out of this report, properties in Queens Co. dropped from $90-million to $16-million which means an annual loss of revenue of about $1.6-million.
Region of Queens Municipality Mayor John Leefe says they and representatives from the two other hardest hit areas, Annapolis Royal and Trenton, met with Service Nova Scotia and Municipal Affairs to voice their concerns. The department is not expected to make a decision until it has met with all 55 municipal units in Nova Scotia.
Mayor Leefe however remains optimistic a solution will be found to minimize the impact in this area and that, in the long run, the municipality will be able to absorb the shortfall.
In the meantime, a meeting with government officials will be held later this month to discuss the short-term implications.
NSPI is not affected by this assessment, as the company pays a fixed rate to the province, which is then distributed to the municipal units by the province as grants in lieu of taxes.
Negotiations continue over potential Region of Queens tax revenue shortfall
The question remains how much the Region stands to lose from the reassessment of Nova Scotia Power Inc. properties.
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