New Brunswick homeowners facing another year of surging property assessments — and taxes
While almost every home owner will get a higher property bill this year, can you guess who will get to pay less?
According to provincial assessment figures, the city’s largest industrial property, the Irving Oil refinery, has received an assessment increase of 1.66 per cent for 2024.
However, under provincial government property tax rules, Saint John’s 2.5 per cent property tax rate cut has to be shared equally with all property owners. That will reduce municipal property taxes collected on the refinery in 2024 by about $25,000.
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