Truro Property Tax Calculator 2021

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The Town of Truro is located along the Salmon River floodplain and is home to over 12K residents. The population of Truro increased by 2.2% from 2011 to 2016. Average home prices in the Truro area were $164,595 in 2019 Q1, which is an increase of 4.4% over the previous year. Truro's listing inventory was also down 11.6% because of a 15% increase in the number of homes sold, which indicates that Truro is a seller's market. This reflects the current real estate conditions of Nova Scotia. However, Truro home prices are more than 40% lower than the average provincial home price. A modest home price increase and relatively stable inventory levels indicate that Truro is less vulnerable to overvalued homes.

Assessment Value of the Property
2020 Property Tax Value
$9,2509.25k
2020 Residential Property Tax Rate
1.850000 %

Truro Property Taxes

Property tax is a tax based on the assessed value of a property. If you own a property or parcel of land, you will have to pay property tax. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.

Residential Property Tax Rate for Truro from 2018 to 2020
YearMunicipal RateEducational RateFinal Tax Rate
2020Not AvailableNot Available1.850000%
2019Not AvailableNot Available1.830000%
2018 Not AvailableNot Available1.830000%
Based on city of Truro official website: check source

Truro Property Tax Department Information

For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Truro's property tax department through the following methods:

Truro at a Glance
ProvinceNova Scotia
Settled Year1761
Established Year1759
Incorporated Year 1875
Population 12261
City Area34.49 km 2 (13.32 sq mi)

Property Taxes in Atlantic Canada for a $500K Assessed Value Home*

Property Taxes in Atlantic Canada for a $500K Assessed Value Home

Property Assessments in Atlantic Canada

Properties in Atlantic Canada are assessed by different organizations for each province.

Nova Scotia

For Nova Scotia, properties are assessed by the Property Valuation Services Corporation which mails out property assessment notices every year in January.

New Brunswick

For New Brunswick, properties are assessed by the province through Service New Brunswick (SNB) which mails out property assessment notices every year in October.

Prince Edward Island (PEI)

For PEI, properties are assessed by the province which mails out property assessment notices along with the property tax bill every year in May.

Newfoundland and Labrador

For Newfoundland and Labrador, properties are assessed by the Municipal Assessment Agency which mails out property assessment notices every year before September.

Most properties are assessed using a market value-based approach. There are three ways that uses to determine a property’s market value:

  1. Direct Comparison Approach
  2. Residential properties are valued under this approach. This compares the sales of similar properties in the assessment year to determine a valuation for the property. The assessed value may not equal the actual market value or sale value of a property.

  3. Cost Approach
  4. Unique and rarely traded properties are valued under this approach. This uses the cost of the property if someone were to rebuild it to determine a valuation for the property minus depreciation due to age or other factors. This includes the price of the land and the price of all improvements (e.g. buildings) on top of it. While this takes into account the market value of the land, it does not consider the market value of the property as a whole.

  5. Income Approach
  6. For properties that are dedicated to generating income like rental properties or offices, an income-based approach is used. This approach uses the income generated by the property as well as the sales price to determine its assessed value.

This calculator is provided for general information purposes only. This calculation may not include any special charges, levies or fees. Results are approximations only. For official and the most up-to-date information, please see your porerty tax bill or contact the relevant taxation authority of your region.