New Brunswick property tax overhaul

As part of the 2024 election platform, the provincial government has committed to overhauling the property tax system.

This includes a review of the centralized property assessment and tax system, with the goal of having a more predictable, transparent, fair and affordable system for the 2027 taxation year and beyond.

Over the past four years, New Brunswick has experienced record growth in its real estate market. This growth led to higher property taxes for many, especially those who own residential properties.

Change is needed. New Brunswickers want fair and stable property taxes moving forward.

The property tax overhaul project is divided into two phases – Discovery and Solution-Building

During the Discovery phase, the focus is on understanding how things are currently working by:

• connecting with stakeholders to understand perspectives, experiences and ideas
• surveying property owners to understand perceptions and interests (click here to complete the survey or call 1-833-724-0088 if you need assistance.)
• evaluating the current assessment and property tax systems considering alternative approaches that could improve the experience of New Brunswickers while ensuring the tax continues to deliver on its intended revenue objectives
• preparing reports on what we heard and learned that will be shared with stakeholders and the public

During the Solution-Building phase, the focus is on:

• evaluating various options for their feasibility and impact
• further engagement with stakeholders
• recommending options to government for decision making
• implementing solutions

We can’t wait to hear from you!

We want to hear from you as we work towards a property tax system that is predictable, transparent and fair. You have an opportunity to make a meaningful contribution to government decisions.

A survey is now available at the link below and will be open from July 3 to August 10. The survey takes approximately 10 minutes to complete.

If you have questions, please send them to [email protected].

As further details on the property tax overhaul engagement process become available, you will find them here.

In New Brunswick, both the province and local governments receive property tax revenues to deliver services to New Brunswickers.

In New Brunswick, property taxes = value for taxation of your property/100 x property tax rates (local government rates and provincial government rates).

New Brunswick has a centralized property tax system. This means that the property assessment and tax systems are administered by the provincial government on behalf of itself and local governments. 

The provincial government is responsible for:

• assessing the value of properties and determining value for taxation
• sending both assessment and tax notices to property owners
• collecting property taxes
• administering property tax policy and programs

Local governments, through their councils, are responsible for setting local tax rates based on budgetary needs.

For rural districts around the province, the Minister of Local Government is responsible for setting the local tax rates and the provision of services.

Service New Brunswick Property Assessment Services is responsible for classifying and assessing all real property in the province at its real and true (market) value annually. Market value is the amount a property would likely sell for on the open real estate market.

Each year in January, Service New Brunswick issues a property assessment notice to property owners in New Brunswick. The property assessment notice is not a bill but rather contains important information about property value. 

See a sample assessment notice

More information on property assessment can be found on NB Property Assessment.

Provincial property tax rates are established in legislation (Real Property Tax Act - R-2.pdf). Provincial taxes are considered general revenue and help fund provincially delivered services such as health, education, social services and the administration of justice.

Local property tax rates are determined by the council in local governments and by the Minister of Local Government for rural districts each year based on their individual local expenditure needs (list of 2025 local rates (PDF 462 KB)). The local tax helps fund public services like roads, fire and police protection, and other services that are the responsibility of local governments and rural districts.

Each year in March, the Department of Finance and Treasury Board issues a property tax notice (tax bill) to property owners across New Brunswick. 

The property tax notice provides a breakdown of the total property taxes owing for the tax year, which covers the calendar year, from January 1 to December 31. The notice includes provincial, local government and rural district taxes where applicable.

Total property taxes are due to be paid to the provincial government at the end of May each year. The local portion is distributed to local governments in 12 equal monthly payments. 

On June 6, 2025, An Act Respecting Property Tax Affordability Measures received Royal Assent in the legislative assembly. These amendments were the first step in the property tax reform process.

News Release: Legislation tabled for one-year assessment freeze

For the 2026 tax year, changes include:

• Freezing the value for taxation at the 2025 level for eligible properties for one year. This freeze is an interim measure to help mitigate property tax increases due to rising assessments while the system is under review. Property owners may still see changes in their property taxes depending on the tax rates used to calculate their property taxes.
• Expanding eligibility for the existing equalized payment plan (EPP), permitting eligible property owners to pay their annual property tax in 12 equal monthly instalments, without penalty. 

Learn more about the Assessment Freeze

Learn more about the Equalized Payment Plan program