Truro Property Tax Calculator 2023
The Town of Truro is located along the Salmon River floodplain and is home to over 12K residents. The population of Truro increased by 5.7% from 2016 to 2021. Average home prices in Northern Nova Scotia, which includes Truro, was $276K in August 2023, which is a minor decrease of 0.6% over the previous year. The average home price in the region is about 35% lower than the average home price in the province. The sales in the area dropped by 4% from August 2022 to August 2023.
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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 2023 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2023 | Not Available | Not Available | 1.902500% |
| 2022 | Not Available | Not Available | 1.902500% |
| 2021 | Not Available | Not Available | 1.850000% |
| 2020 | Not Available | Not Available | 1.850000% |
| 2019 | Not Available | Not Available | 1.830000% |
| 2018 | Not Available | Not Available | 1.830000% |
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 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 | |
|---|---|
| Province | Nova Scotia |
| Settled Year | 1761 |
| Established Year | 1759 |
| Incorporated Year | 1875 |
| Population | 12,954 |
| City Area | 34.49 km 2 (13.32 sq mi) |
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:
- Direct Comparison Approach
- Cost Approach
- Income Approach
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.
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.
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.
Property Tax of Other Cities in Atlantic Canada
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.