Bill 308: Family Property Continuity Act

This bill primarily affects families and individuals in Nova Scotia who own residential or other assessed property — particularly those passing property down to children, grandchildren, or other close relatives who currently live outside the province. A typical scenario would be a family cottage or home in Cumberland County or rural Nova Scotia being inherited by an adult child living in another province or country, who intends to move back. Without this bill, that transfer would reset the assessed value cap, potentially triggering a sharp increase in annual property taxes. The bill also touches estate lawyers and administrators handling property transfers during probate, since it clarifies how temporary estate transfers are treated. Property owners who might try to game the cap rules are also affected by the new anti-avoidance provision. Business size is largely irrelevant here — this is mainly about private property owners and family estates rather than commercial operators.