FREDERICTON, N.B. – With property assessment and tax notices being mailed out on March 1, property owners are encouraged to contact their regional assessment offices with any questions or concerns when they receive their property tax bill.
“Service New Brunswick assessment staff is prepared for a higher than normal volume of inquiries and want to hear from you,” said Service New Brunswick Minister Serge Rousselle. “Assessors can give property owners relevant information with respect to their property and an explanation as to how the value was calculated.”
The majority of property owners should not see any change in the assessed value of their property this year due to a government-initiated assessment freeze. The Property Assessment and Tax Notices have been changed to show both the 2017 and 2018 assessment values. While the majority of property owners will see no change in their assessment value, there are some exceptions to the freeze which 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 transactions; or
– 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, a change to the tax rate by a local government will impact the total amount of property taxes payable.
In addition, a small number of property owners who filed a Request for Review will not receive a Property Assessment and Tax Notice on March 1. While 98 per cent of the 18,596 Request for Reviews have been completed, about 344 property owners whose reviews have not been completed will not receive a property tax bill until the review has been processed. Letters are being mailed to affected property owners advising them that their 2018 Assessment and Tax Notice will be delayed until their 2017 Request for Review is processed. Deadlines will be extended for these property owners so they will have a full 90 days to make their payment.
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.