Finance Minister thinks tax bills too high

The provincial Minister of Finance is quoted by the CBC as saying:

I don't think we've had the uptake from the municipalities we thought we would that is disappointing.

Read more at the CBC NB news site.  These comments come after a provincial policy was implemented where municipalities had to actively decide to increase or maintain the tax rate if they wanted to bring in tax money with a growth rate higher than inflation and new property assessments.  It seems more municipalities decided to go for a rate higher than the provincial formula than the province hoped.

Minister Byrne’s comments indicate that the province wanted to leave the assessment calculation the same, but not allow cities to have a windfall from raising property values, without creating new value for tax payers.