Saint John, New Brunswick (December 7, 2018) – In an effort to modernize the Assessment Act and to provide much-needed financial stimulus to New Brunswick’s municipalities, the Official Opposition will introduce a bill to repeal property tax exemptions currently afforded to heavy machinery and heavy equipment.
“This amendment to the Assessment Act will result in a fairer property tax system in Saint John and across the province,” said Gerry Lowe, MLA for Saint John Harbour. “Including heavy machinery and heavy equipment in the calculation of a property’s assessment value will result in additional revenue for municipalities, will even the playing field across varying means of production, and will make New Brunswick’s system similar to that of most other Canadian provinces.”
Directing a legislative committee to explore the elimination of an exemption by way of an amendment to the Assessment Act had been included in the Liberals’ 2018 Speech from the Throne, an agenda for government that was defeated in the Legislature by the Conservative-People’s Alliance coalition.
“My city has its fiscal challenges, there’s no doubt about that,” continued Mr. Lowe. “Allowing for the taxation of heavy machinery and heavy equipment will go a long way towards reducing the structural budget deficit the City of Saint John faces every year.”