Property Assessment and Tax Notices being mailed this week28 February 2018
FREDERICTON (GNB) – Property Assessment and Tax Notices are being mailed to more than 470,000 property owners across the province this week.
“I encourage property owners that have any questions or concerns to contact their regional assessment offices,” said Service New Brunswick Minister Serge Rousselle. “Assessors will be available to explain the assessment process and answer any questions or concerns that property owners may have.”
A government-implemented assessment freeze means that 84 per cent of property owners will not see any change in their 2018 assessment and 12.5 per cent will see a decrease. The assessment and tax notices have been changed to show both the 2017 and 2018 assessment values. Exceptions to the freeze include:
- a decrease in property value based on market forces;
- new construction and renovations;
- errors or omissions of property data resulting in a correction to the 2018 valuation;
- real estate/property sale or transactions;
- a change in current use/classification of the property (i.e. the subdivision of property or a change in occupancy) resulting in a change in property valuation.
While the property assessment will remain at the 2017 level, 49 per cent of local governments have increased their tax rate, which impacts the total amount of property taxes payable.
Additional information about property assessment can be found at www.snb.ca or by calling the regional assessment office. The telephone number for nearest assessment office is listed on each property tax bill.