FREDERICTON – The leader of New Brunswick’s Opposition, Glen Savoie, is anticipating the governing Liberal party's release of a substantial reform to the property tax system, which has seen significant increases in recent years due to soaring home values. The demand for property tax reform comes on the heels of a 53 percent rise in average home prices in the province between June 2020 and February 2023, as reported by the Housing Hub of New Brunswick. This surge has been fueled by an influx of tens of thousands of new residents from other provinces during and after the COVID-19 pandemic.
Savoie, who leads the Progressive Conservatives, expresses hope that the government will avoid mere superficial changes and instead implement a system that is both beneficial and practical for municipalities. “What I hope to see is something that is going to be useful and beneficial to municipalities,” he stated in an interview on Monday, reflecting on the anticipated adjustments to property taxes.
In response to the escalating property values, the Liberal government opted to freeze tax assessments in 2025. Premier Susan Holt has articulated her aim to establish a fair and steady property tax framework, granting her party until the 2027 tax year to devise a new structure. This indicates a long-term approach by the government to address the issues surrounding property taxation and the accompanying financial burden on homeowners and municipalities alike.
While the Liberal party has been tight-lipped about the specific details of the forthcoming legislation, they have indicated that formal announcements will be made through news releases on the mornings of significant bill introductions in the legislative assembly. The upcoming session of the legislature is set to commence on Tuesday, with members scheduled to convene for eight days over the following two weeks, followed by a one-week break before returning for an additional three weeks.
On the legislative agenda, nearly a dozen members will also be working on updates to the province’s Clean Water Act. Key figures, including executives from the oil company J.D. Irving Ltd., representatives from a municipal advocacy group, and an environmental lawyer, are set to appear before the climate change and environmental stewardship committee. David Coon, leader of the two-member Green Party caucus, highlights the necessity for enhanced clean water laws and emphasizes the need for improved safeguarding of lakes and rivers from pollution. He also called for bolstered measures to ensure safe drinking water within the province.
The anticipated reforms to property tax legislation and environmental protection laws underscore the pressing demands for governmental action in New Brunswick as it grapples with significant economic and environmental challenges prompted by rapid demographic changes and ongoing environmental concerns.
