A Property Account Number is assigned to your property to identify it for assessment and taxation purposes. It is located in the upper right portion of the Assessment and Tax Notice.
Understanding your Assessment & Tax Notice
A Parcel Identification Number is assigned to your property to locate it on maps. It is located in the upper left portion of the Assessment and Tax Notice by the initials P.I.D.
All real property in New Brunswick is classified either Residential or Non-Residential depending on its use on January 1st of the taxation year.
The Mailing Date of the Notice is the date the bill is issued.
On or after that date, penalty for non-payment is calculated at a rate of 0.7591 per cent per month compounded monthly on the amount of unpaid taxes or penalties or both.
A credit will appear on your Notice if an overpayment was made. The credit will be applied as a payment on the current year levy. If the credit results in more than the current year levy, it may be refunded to you by requesting the refund in writing to the Revenue Division, Department of Finance. The overpayment could be the result of a reduction in the assessed value, a classification change or application of the residential tax credit. Department of Finance.
A deferred amount under the Farm Land Identification Program may be indicated in the left part of the tax notice under sections related to municipal taxes or local service districts and provincial taxes. The deferred amount is deducted from the total contributions on real property.
The Real Property Tax Act provides the authority to levy taxes. The provincial rate of tax is set at $1.1233 per $100 of assessed value on real property that is classified as residential non-owner occupied housing and $1.2173 for residential other. Additional information on these new rates can be found through the following link:
Real Property Tax Act
A rate of $2.1860 per $100 of assessed value on real property that is classified as non-residential.
The municipal rate of tax is determined on a yearly basis by each individual municipality and local service district during the annual budget process. It is based on the amount of revenue required by the municipality or local service district to provide services to the residents. The municipal rate for property classified as non-residential is one and one-half times the rate set for property classified as residential.
The Provincial Cost of Assessment is legislated under the Real Property Tax Act at 0.0194 cents per $100 of assessed value. The levy is collected by the Province to fund the assessment function that is provided by Service New Brunswick.
The Residential Tenancy Fee is a levy of 0.0486 cents per $100 of assessed value on non-owner occupied properties classified as residential that does not receive the residential tax credit or that has not been exempted from the levy under the Residential Tenancies Act. The fee is collected on behalf of the Office of the Rentalsman who administers the Residential Tenancies Act.
Taxes are due and payable when the Assessment and Tax Notice is mailed. The Balance Due Date of May 31 is identified on the Tax Notice. A penalty will be applied to any current year taxes that remain unpaid after May 31.
If you are in disagreement with the assessed value of your property, you may appeal that value by completing the middle portion of the Notice called the Request for Review. Provide the reason(s) why you disagree with the value, sign, date and return it before the Closing Date which is located in the upper right corner of the Request for Review.
Before you Request a Review:
Ask yourself, "Is the value of my property reasonable? Would I be able to sell my property for the assessed value? Would I be prepared to sell my property for less than the assessed value?" Discuss any of your valuation concerns with the regional Assessor by contacting the appropriate Regional Assessment Office or by referring to the regional office phone number located on your Assessment and Tax Notice.
The telephone number and address of the Regional Assessment Office for the area in which the property is located is found the Assessment and Tax Notice or by visiting Assessment Office Locations on the website.
The bottom portion of the Assessment and Tax Notice must be returned to the Department of Finance with your payment to ensure the payment is credited to the correct account. It will also serve as your receipt if you make your payment in person.