Provincial Property Tax Exemption for Not-for-Profit Low Rental Housing
Since Jan. 1, 2005, qualifying non-profit low-income housing organizations in New Brunswick no longer pay the provincial component of property taxes for their low-income rental housing facilities.
To be eligible, an organization must be a non-profit housing corporation, or a non-profit co-operative housing association, whose primary purpose is to provide affordable rental housing for low-income individuals and families.
Interested organizations wishing to benefit from this property tax exemption need to complete an initial application through the Department of Social Development. Once a property has been identified as qualifying for the exemption, no further applications by the organization will be required.