Environment and Local Government
Legislation introduced to repeal LNG tax break03 November 2016
FREDERICTON (GNB) – The provincial government introduced legislation today that would repeal the 2005 tax break which caps the property tax bill for the Canaport LNG terminal in Saint John.
“This act will ensure fair taxation on the LNG terminal property and get results for the City of Saint John on one of their key priorities,” said Service New Brunswick Minister Ed Doherty who tabled the legislation. “As promised just last week, our government is taking action and doing the right thing for the City of Saint John.”
An Act to Repeal An Act to Comply with the Request of the City of Saint John on the Taxation of the LNG Terminal, reverses the taxation break that capped the property tax for the LNG terminal at $500,000. Service New Brunswick is completing a revaluation of the property to estimate the market value of the property effective Jan. 1, 2017.
“We are proud to be working with municipalities, communities, and local service districts to strengthen their ability to deliver results and provide quality core services to New Brunswickers,” said Environment and Local Government Minister Serge Rouselle. “Repealing the legislation marks a return to fair taxation, which will be in effect for the 2017 property taxation year.”