Who is responsible for real property assessment?
Assessors employed within the Operations Division of Service New Brunswick.
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What does an Assessor do?
An Assessor locates, classifies and values all real property, analyzes available sales and construction cost information and determines the real and true value (market value) of each property in accordance with the Assessment Act.
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Why do assessed values change?
Assessments are adjusted annually based on sales analysis and changes in construction costs. When the market/real and true value changes, so does the assessed value.
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Who receives an Assessment and Tax Notice and
when?
Every person who owns real property in the Province of New Brunswick or who leases property from the Crown (either Federal or Provincial) will receive an Assessment and Tax Notice on or about March 1st of each year. Lessees and lessors who have entered into a Lease that meets the requirements set out in section 14(7.2) in the Assessment Act may also receive an Assessment and Tax Notice.
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What is the taxation year for property tax
bills?
All real property is assessed at its real and true value as of January 1st of each year. The taxation year is the calendar year-January 1st to December 31st.
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If I didn't receive an Assessment and Tax Notice
this year, what should I do and am I required to pay taxes?
Inquiries should be directed to the Assessment Services Office of SNB in the area in which the property is located. Taxes are due and payable on the day on which the Notice is mailed. No exemption from taxation is conferred by reason of non-receipt of the Notice. Real Property Tax Act
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What are the rates on the Assessment and Tax Notice? Who sets these rates?
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Provincial Tax Rate - legislated under the Real Property Tax Act at $1.50 per $100 of assessed value on real property calssified as residential, and one and one-half times the residential rate or $2.25 per $100 of assessed value for real property classified as non-residential property.
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Municipal Tax Rate - determined annually by each Municipality and Local Service District, depending on how much revenue is needed to provide services. The rate on real property classified as non-residential is one and one-half times the rate on real property classified as residential.Department of Environment and Local Government
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Provincial Cost of Assessment - legislated under the Real Property Tax Act at two cents per $100 of assessed value for all real property whether it is classified as residential or non-residential.
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Residential Tenancy Administration Fee - legislated under the Residential Tenancies Act at five cents per $100 of assessed value on residential property that is not owner-occupied and is not exempt under the Act. The money is collected by the Minister of Finance on behalf of the Office of the Rentalsman.
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Business Improvement Area Levy - approved annually by the corporaton in accordance with the Business Improvement Areas Act. The rate is imposed on real property that is classified as non-residential and cannot exceed twenty cents per $100 of assessed value. The money is collected by the Minister of Finance on behalf of the corporation where the Business Improvement Area is located.
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Why have my taxes increased from last year?
The reason for an increase in the amount of tax levy from the previous year can be caused by:
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an increase in the assessed value of the property;
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an increase in the municipal tax rate;
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an increase in the business improvement area levy;
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the elimination of the residential property tax credit;
Tax Benefit Programs
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a change in the classification of the property.
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What can I do if I am dissatisfied with the
assessed value of my property?
There are serveral avenues to pursue if you feel the assessed value of your property is in excess of the real and true value (market value); the first of which is to call the Assessor.The Appeal Process
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If I am satisfied with the assessed value of my
property but I feel the taxes levied are excessive, can I appeal the
amount of the tax levy?
Only the assessed value can be appealed. The taxes levied are based on the assessed value. If, however, the assessed value is reduced as a result of the appeal process, the taxes levied will be adjusted accordingly.
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Is there any tax relief available for
homeowners?
There are two programs available to the assessed owner of real property who occupy the property as their principal place of residence; namely, the residential property tax credit and the property tax allowance. Residental Property Tax Relief Act | Tax Benefit Programs
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Is there any relief from property tax for the
assessed owner of farm properties?
The
Farm Land Identification Program (FLIP) provides provincial and municipal tax relief for farmers. Real Property Tax Act | Agriculture, Fisheries and Aquaculture | Tax Benefit Programs
A program is also in place that ensures that the tax rate applied to farmland will not exceed the provincial average rate for municipalities and local service districts.
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Are charitable or not-for-profit organizations
given any relief from assessment and taxes?
The Assessment Reduction Program is available to these types of property. Assessment Act | Tax Benefit Programs | Dept. of Finance
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