Continued growth in assessment base for taxation

Release

Department of Environment and Local Government, Service New Brunswick

October 07, 2025

FREDERICTON (GNB) – The government is reporting the province’s overall local government and rural district assessment base for taxation grew by 2.7 per cent compared to last year.

The assessment base for taxation includes the assessed value of homes and other properties within each local government or rural district. Although eligible properties will have their value for taxation frozen at 2025 levels for the 2026 taxation year, the provincewide assessment base still increased by over $2.5 billion. This growth resulted from new construction and sales, which were not subject to the freeze.

The one-year assessment freeze on eligible property values was adopted to help provide relief and predictability to New Brunswickers as work continues to overhaul the province’s property tax system.

A new funding model was adopted earlier this year to support local governments in providing important services and renewing infrastructure.

Fiscal capacity (equalization) funding replaces the former community funding grant and provides $77 million of unconditional funding, which is an increase of $20 million from 2025. A new capital renewal fund will support local governments in maintaining and renewing their infrastructure and will provide $43 million in 2026.

The 2026 assessment base, fiscal capacity funding and capital renewal funding amounts for all New Brunswick communities are available online.

Property owners will receive their 2026 property assessment notices in January. More information is available online.

 

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