Service New Brunswick
Property assessment and tax system outlined01 March 2018
FREDERICTON (GNB) – Property owners have begun receiving their Property Assessment and Property Tax notices, and although assessments are frozen at last year’s levels, tax rates set by local governments are not. This means that some property owners may still see an increase in the amount of taxes owed.
The government has launched an information campaign to help property owners understand the role of property assessment services provided by the provincial government and the role of local governments that receive the money generated by property taxes.
“We are encouraging anyone with questions or concerns about their assessment to contact their regional assessment office,” said Environment and Local Government Minister Serge Rousselle. “Property assessment determines the assessed value of a property and local governments set the tax rate.”
Property taxes are used by local governments to pay for services such as firefighting, police, recreation, infrastructure and transportation. Each year, local governments determine the amount of money needed to pay for these services and then set a tax rate. This year, 49 per cent of local governments raised their tax rates.
The amount of property taxes owing is determined by the local government’s tax rate and the property’s assessed value. For example, if a home has an assessed value of $100,000 and the local government sets the tax rate at $1.50 per $100 of assessed value, then the formula is $1.50 x 1,000 = $1,500 in property taxes.
Additional information about property assessment can be found at www.snb.ca or by calling the regional assessment office. The telephone number for the nearest assessment office is listed on each property tax bill or can be found online. A list of municipal tax rates is available online.01-03-18