Why assessments in New Brunswick were still rising on January 1, 2009

Assessments are established as of January 1 each year and are based on sales of properties that have occurred prior to that date. The notice you received on or around March 2nd, 2009 reflects the assessment of the full market value of your property as of January 1, 2009.

While housing prices have recently fallen in other parts of North America, real estate sales data in New Brunswick in the final months of 2008 did not indicate an overall decrease in housing prices in this province. If the sale price of houses in New Brunswick were to decrease after January 1, 2009, this would be reflected in the 2010 assessed values.