Government of New Brunswick

NB Property Assessment determines an assessed value for all real property in New Brunswick on an annual basis.   Each January, assessment notices are released to property owners to reflect the value as of January 1 of the previous year.   This information is also shared with various government departments and municipalities allowing them to establish operating budgets. 

The regular, unbiased, and reliable updating of property classification and assessment information for all properties in New Brunswick provides a wealth of data with which to better understand economic, environmental, and socio-demographic activities and ongoing change throughout our province.

  1. Defined as buildings intended for private occupancy whether on a permanent basis or not  (e.g single-family, mobile homes, cottages, semi-detached homes, nursing homes and apartment buildings)
  2. Means all real property except residential property (e.g. malls, hotels, restaurants, warehouses, manufacturing plants)


What is the change in the Real Property Assessment value for New Brunswick properties for the assessment year 2023?

The 2023 assessed values of New Brunswick properties continue to reflect a strong real estate market provincewide. While 21% of properties have no change in assessed value when compared to 2022, 24% of properties have up to a 5% increase, and 16% have an increase ranging from 5 to 10%. While 39% have an increase of greater than 10%, 78% of those are protected by the Spike Protection Mechanism.

2023 Change in Assement Values for all Properties

When property owners receive their Annual Property Assessment Notice in January, they are asked to carefully review their assessed values.   If a property owner does not agree with the assessment, the owner can file a Request for Review within 30 days of the mailing date on the notice.