FREDERICTON (GNB) – More than 90 per cent of property tax bills which had an arbitrary formula applied have been reissued, with the vast majority decreasing after a review by Service New Brunswick.

On June 1, Service New Brunswick reissued 1,858 bills to property owners that had an arbitrary formula applied to their March bill. Ninety-three per cent of the re-issued bills decreased, six per cent stayed the same, and one per cent increased.

The remaining impacted property owners who had a formula arbitrarily applied will receive a new bill in July. Individuals will have 90 days from the bills being reissued to process payment.

To date, Service New Brunswick has received 16,416 requests for review of property tax assessments by property owners. Of those, it has processed 23 per cent.

Due to the number of requests for review, Service New Brunswick anticipates it will be late 2017 or early 2018 before all are processed. Property owners who wish to appeal the request for review decision will be able to do so 21 days within their decision being issued from Service New Brunswick.

If a request for review results in a reduction, a revised statement is issued to the property owner from the Department of Finance, advising of a credit to the account.

A number of payment options and programs are available to assist property owners. More information can be found online.