Green Party Leader David Coon announced today that a Green government would make New Brunswick’s property tax system fairer for small business and residential taxpayers.
“For far too long, heavy industry in New Brunswick has received unfair tax breaks leaving small businesses and homeowners paying an unfair share of provincial property taxes,” said Coon. “A Green government would amend the New Brunswick Assessment Act to bring fairness to the system.”
In Saint John, for example, homeowners contribute 61% of all property taxes while heavy industry pays just eight percent. The Saint John Regional Hospital’s annual property tax bill is $4.5 million while Irving Oil pays just $2.6 million in property taxes for their refinery.
“The property tax system has become corrupted”, said Coon. “And I am going to clean it up.”
The Green Party leader committed to eliminating a loophole which enables heavy industry to receive property tax cuts if their income declines, something unavailable to any other class of taxpayer.
“If you lose your job or you have lost business, government is not going to cut your property tax bill like they do for heavy industry. It is unbelievably unfair,” said Coon.
Coon said he would also end the tax breaks heavy industry receives on industrial machinery and heavy equipment, and cancel the tax exemption Irving Oil receives on its tank farm.
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