In recent years, concern has been raised that property taxes have increased significantly faster than inflation.
The Plan for Lower Taxes in New Brunswick, introduced in the 2009-2010 Budget provides for an accountability mechanism that will help prevent provincial and municipal property taxes from automatically escalating when assessments rise.
With this mechanism, increased revenues from growth in the assessment base associated with new construction, and market value increases of up to inflation, will continue to automatically flow to municipalities and the Province.
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