New Brunswick has mailed out more than 400,000 property assessments across the province, and for a number of homeowners it may be prudent to sit down before opening any notice that arrives.
The New Brunswick government is calling on municipalities to consider cutting their tax rates for 2023 in the face of large assessment increase notices being mailed out to provincial property owners this week.
More than 400,000 property tax bills for 2022 are being mailed out across New Brunswick beginning Friday and while many homeowners will see increases from last year in what they are charged, the province's largest commercial and industrial properties will mostly be getting reductions.
The assessed value of homes have gone up all over New Brunswick, but the biggest increases were seen in Moncton. More than 11,000 properties in that city had their assessed values go up by at least 15 per cent over the previous year.