• The Property Assessment process in New Brunswick
• Understanding how property assessment factors into your tax bill
• What is market value and why are assessments based on it?
• Comparing your assessment to other properties
• New Brunswick real estate sale prices now available (from January 1, 2009)
• Questioning your assessment?
• Why assessments in New Brunswick were still rising on January 1, 2009
• Service New Brunswick improves the Appeal Process
• Contacting Service New Brunswick

Understanding how property assessment factors into your tax bill.

Property assessment, based on market value, plays a valuable and important role in financing local and provincial services across the province. The assessed value of homes and other properties within a municipality or rural area make up what is known as the tax base. As part of their annual municipal budget process, municipalities use their tax base to determine what tax rate they need to finance their spending for the following year. The municipality can choose to hold, lower or increase the tax rate based on their budget demands and the value of their tax base.

For most home owners within a municipality, your tax bill is largely a result of the following equation:

For certain types of property like rental, industrial, recreational and commercial, as well as homes in local service districts (LSDs), the provincial government also applies a tax to help defray the cost of provincially-provided services. The provincial rate has been the same for more than 20 years.