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Press Release
New Brunswick REALTORS® Urge Property Owners and Tenants to Review Parties' Property Tax Solutions (Download)

Property Taxes in New Brunswick

Did you know that New Brunswick has one of the highest home ownership rates in Canada? In fact, nearly 75 per cent of New Brunswick residents own the home they live in.

For an issue that affects 75 per cent of the population, you would think the system would be relatively simple to understand. Unfortunately it’s not.

What should be a simple equation (the Province of New Brunswick sends out appraisers who assess a home for its value. That value is then used by the municipality or a local service district in a property tax formula to determine the amount of tax a home owner is to pay on their home), has become extremely complicated and unfair and has created confusion in the marketplace.

NBREA strongly believes that, for an issue that impacts 75 per cent of New Brunswick residents and their quality of life, the property value assessment and property tax system must be one of the primary election issues among candidates in New Brunswick’s 2010 election campaign.

Specifically, NBREA has identified these key recommendations for property tax system improvements:

  • Simplify property value assessment calculations
    • Property value assessment is at the heart of the issue as they do not reflect real market conditions.
    • Many home owners believe there are problems with how property value               assessments are calculated, with their accuracy and how they are presented.
  • Make things easier for property owners to understand
    • Provincial government and municipalities must make the system easier for property owners to understand, including changes to how assessment notices and property tax invoices are delivered.
  • Address urgent issues for low income residents
    • Use a formula to help seniors (those over 65) and other low income residents      maintain home ownership based on a provincial allowance.
  • Eliminate double taxation on non-occupied property owners 
    • Double taxation shifts a disproportionate share of the tax burden to businesses and renters.
    • Double taxation can “lock” people into rental units or their current homes.

brochures

discussion paperA Discussion About Property Taxation in New Brunswick

 

Do you have a story on how property taxes and/or assessments have affected you personally? Send it to esmith@nbrea.ca.

For more information on our efforts to make the property tax system an election issue, visit our NBREA page on Facebook.