Green Party Committed to Keeping People’s Housing Affordable
October 17, 2024
FREDERICTON — Today Green Party Leader David Coon outlined his plan to ensure people are not priced out their housing by large property tax or rent increases.
“No one should ever be taxed out of their home,” Coon stated, highlighting the urgent need for reform as property assessments continue to soar.
Coon criticized the current property assessment system. He emphasized that the Green Party is unique in its commitment to removing the multiplier that ties residential property taxes to industrial rates.
“The lack of transparency and fairness has been perpetuated by successive Liberal and Conservative governments. We need to overhaul this system to ensure equitable property taxes for all New Brunswickers,” said Coon. “Homeowners shouldn’t have to bear the burden of subsidizing corporate taxes.”
“We will also make changes to the property assessment system for apartment buildings to drive the development of affordable rental properties,” said Coon. We will assess rental properties based on their rental income, so that low rent apartment buildings will pay a low property tax. This represents a major incentive for the development of affordable housing.”
Coon also reiterated his plan to keep rental housing affordable by implementing a rent cap tied to the rental unit, not just the tenant, in order to avoid new property owners from renovicting tenants in order to implement a steep rent increase.
“Our changes to the property assessment system for apartment buildings are a major change to drive the development of affordable rental properties,” said Coon. “And it is imperative that we keep affordable housing affordable, and our rent cap will do just that.”
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