Provincial Assessment Statistics

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.   This information is also shared with various government departments and local governments 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)

Why the change in the Real Property Assessment value for New Brunswick properties for the 2024 assessment year?

The 2024 assessed values of New Brunswick properties continue to reflect a strong real estate market provincewide. While 11% of properties have no change in assessed value when compared to 2023, 24% of properties have up to a 5% increase, and 22% have an increase ranging from 5 to 10%. While 43% have an increase of greater than 10%, 86% of those are protected by the Spike Protection Mechanism.

When New Brunswick 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.