A complex new formula introduced for calculating property taxes in New Brunswick will loosen the connections between residential and non-residential tax rates in municipalities and automatically lower rates when local property assessments rise.
Saint John mayor calls proposed changes a disappointment
Robert Jones · CBC News
· Posted: May 27, 2026 3:24 PM EDT | Last Updated: 20 minutes ago
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Local Government Minister Aaron Kennedy introduced changes to New Brunswick’s property assessment and tax system Wednesday. (Jacques Poitras/CBC)
A complex new formula introduced for calculating property taxes in New Brunswick will loosen the connections between residential and non-residential tax rates in municipalities and automatically lower rates when local property assessments rise.
That will end the practice of municipalities treating rising property values as revenue windfalls and make the property tax system fairer, according to long-promised reforms introduced by the Holt government Wednesday.
“This legislation will help us set the foundation for a property tax system that is more transparent, predictable and stable, starting in the 2027 taxation year,” said Local Government Minister Aaron Kennedy.
The biggest change being made is a provision that will automatically lower a municipality’s tax rate if the value of assessments in the community rise by more than the rate of inflation in a given year.
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