New Brunswick Local Government Minister Aaron Kennedy announced on Wednesday that the provincial government will take over the setting of property taxes for municipalities in an effort to lower bills for residents. The announcement was made during a news conference in Fredericton, where Kennedy outlined the new property tax reforms.
Key Details of the Reform
Under the new system, the province will set property tax rates for all municipalities, replacing the current system where each municipality sets its own rates. Kennedy stated that this change aims to reduce the tax burden on residents and ensure more consistent rates across the province.
“We believe that by centralizing the property tax setting process, we can achieve greater fairness and efficiency,” Kennedy said. “This will help lower bills for New Brunswickers while maintaining essential municipal services.”
Reaction and Implementation
The announcement has drawn mixed reactions. Some municipal leaders have expressed concerns about losing local control over taxation, while others welcome the potential for lower rates. The government plans to implement the new system by the next fiscal year, with further details to be released in the coming months.
This reform is part of a broader effort by the New Brunswick government to address affordability issues and streamline municipal finances. The province has been reviewing property tax policies for several years, with a focus on reducing costs for homeowners and businesses.
