Bill 49: An Act Respecting Property Tax Reform

Businesses that own or lease commercial or industrial real property in New Brunswick are most directly affected, particularly heavy industry operators whose properties generate local government grants under the new Community Funding Act provisions. Any business paying property tax will be subject to the new rate stabilizer framework starting in 2027, which caps how much municipal and provincial property tax rates can increase year-over-year, giving more predictability for budgeting. Owners of heavy industrial facilities — think large manufacturing plants, mines, or processing operations — may find their host municipalities now receive monthly provincial grants tied to those properties, which could influence local tax decisions affecting them. The changes to appeal timelines (extended to 30 days) and electronic notice delivery are procedural but matter to any property owner who disputes their assessment.