Interesting Assessments

The 2024 property tax assessments are out for most properties in NB. Here are some interesting assessments around Saint John:

-- Via Calabria apartments that sold for $22.5 million in 2022 are assessed for less than $15.8 million, or 70% of the purchase price. Do the assessors think the investors paid almost $7 million too much?

-- The former St. Patrick's school sold for $745,000 in October 2023. The assessment is only $40,200, or 5.4% of the purchase price. Put another way, the sale price is 18.5 times the assessment

-- The Fundy Quay development area is assessed for a total of $3,792,500 up just 7.2% from 2023. Apparently the assessors think all the work that was done in the last year is worth only $254,500.

-- The hole at the top of King Street's assessment went up from $309,100 in 2023 to $323,800 in 2024. 4.8% growth for a hole in the ground. 

-- The new apartment building on Technology Drive is already assessed at $14.3 million - that's going to be a big assessment and tax bill by the time the building is done. 

-- The main oil refinery property creeped up $1.8 million or 1.7%.

-- McAllister place is up 4.6% from 2023 to 2024.