Property tax in New Brunswick

Rates are in dollars per $100 of assessment for taxation: Moncton's own 2026 example is a home valued at $379,603, which pays "$379,603 /100 x $1.3614 = $5,167" in municipal tax; the provincial part of the bill adds the $0.0194 cost-of-assessment rate, plus the $0.5617 provincial residential rate on any value not covered by the Residential Property Tax Credit (for example a home that is not the owner's principal residence, or land beyond the first 0.5 hectares).

New Brunswick has no separate school tax or school board levy. Education is funded through the provincial portion of the bill: the Province says "the provincial portion of property taxes pays for services like education, provincial roads, and healthcare."

The 2026 provincial rates are set in the Real Property Tax Act, per $100 of assessment: - $0.5617 on residential property in paragraphs (a) to (f), (h) and (i) of the Assessment Act definition, which covers dwellings such as cottages, apartment buildings, rooming and boarding houses, mobile homes, single family residences, duplexes and triplexes, nursing homes and senior citizens' homes (s. 5(1.0901)(a), "For the years 2024 to 2026, inclusive"); - $1.0345 on other residential property in paragraphs (g) and (j) to (n), such as community halls, hospital facilities, separately assessed residential building lots, farmland and freehold timberland (s. 5(1.0901)(b)); - $1.8560 on non-residential property (s. 5(1.091), "For the years 2023 to 2026, inclusive"); - $0.0194 cost of assessment on residential and non-residential property (s. 5(2.02)).

An owner who lives in the home as a primary residence receives the Residential Property Tax Credit. The Province says this credit "reduces the provincial tax rate to $0 on the first 0.5 hectares of land around your home."

From 2027, the provincial rates are no longer fixed in the Act. Instead, they "shall be determined in accordance with section 5.011", a formula that adjusts each rate. The Minister must file the resulting rates with the Clerk of the Legislative Assembly (s. 5(1.092), 5.011(4)).

New Brunswick has one provincial billing cycle for every local government. Because the Province bills, dates are largely the same across the province: - January: SNB mails assessment notices (2026 notices were mailed in January, with a news release on January 19, 2026). - March: the Province mails tax notices to most owners (2026 bills were mailed March 2, 2026). Some owners get a later notice, for example after a review request, and that notice shows updated payment dates. - May 31: taxes billed in March "must be paid in full to avoid penalty."

Legally, taxes are "due and payable on the day on which the real property tax notice ... is mailed" (Real Property Tax Act s. 10(1)). The penalty date printed on the notice "is usually 85 days after" the notice is mailed. If the taxes are not paid by then, a penalty of 0.7591% per month (9.50% a year) applies on the first day of each following month until the balance is paid.

Equalized Payment Plan. The Province's Equalized Payment Plan spreads the annual tax over 12 equal monthly withdrawals from March to February, with no penalties and no administration fee. For 2026 it was expanded to more property categories, "such as apartment buildings, cottages and businesses." Applicants must have no outstanding taxes from previous years. They must not pay taxes through a mortgage company or financial institution. Applications for 2027 are accepted until May 31, 2027.

2026 freeze on value for taxation. Section 15.72 of the Assessment Act states: "For the year 2026, the amount of an assessment on real property ... is deemed to be ... the amount of the assessment for the real property in the year 2025." SNB says the freeze applies to residential owner-occupied, non-owner-occupied and non-residential property, and that 90% of owners see the same value for taxation as in 2025. The Province says it benefits the owners of about 430,000 properties.

The freeze does not apply to new construction or major improvements, errors, most sales or transfers, changes in use or classification, omitted property, or decreases in assessment. Market (real and true) values were still calculated, and requests for review are made against them. Bills can still change, because "if local government property tax rates change, then the overall property tax amount owing may change." The provincial assessment base for taxation is $99.8 billion, up 2.7%.

From 2027. SNB says assessment returns to market value with a "spike protection mechanism" for eligible properties, "where any increase greater than 10 percent is phased in over time". Sales, new construction and major improvements are excluded. The legal basis is s. 15.8 (other real property, with listed exceptions) and s. 15.71 (homes eligible for the residential credit), which apply in 2025 and later years "other than in the year 2026".

Property tax reform (2026, c. 26). An Act Respecting Property Tax Reform was tabled on May 27, 2026 and received Royal Assent on June 12, 2026. Its amendments to the Real Property Tax Act appear in the current consolidation. From 2027, they widen the non-residential multiplier to between 1.0 and 2.0 times the residential rate (s. 5(2.0001)) and move the provincial rates to the s. 5.011 formula. Other parts come into force only on a day fixed by proclamation (s. 7): - local government rate stabilizers under the Local Governance Act; - changes to the Property Tax Allowance; - a longer appeal period of 30 days, instead of 21, to appeal a review decision to the Assessment and Planning Appeal Tribunal.

The consolidated Assessment Act read on 2026-10-28 still showed twenty-one days.

Other relief. Seniors can defer annual increases under the property tax deferral program for seniors.