Liberals expected to introduce property tax overhaul as legislature resumes

The New Brunswick flag flies in front of the legislative assembly building, home of the provincial parliament, in Fredericton, Saturday, July 26, 2025. THE CANADIAN PRESS/Giordano Ciampini

FREDERICTON — New Brunswick’s Opposition leader says he’s expecting the governing Liberals to release their long-awaited overhaul to the system that sets property taxes, which have jumped sharply in recent years because of a rapid rise in home values.

Glen Savoie, leader of the Progressive Conservatives, says he hopes the government uses the new session of the legislature, which resumes Tuesday, to do more than window-dressing.

“What I hope to see is something that is going to be useful and beneficial to municipalities,” Savoie said about the upcoming property tax changes in an interview on Monday.

Property taxes skyrocketed during and after the COVID-19 pandemic, as the province’s housing market suddenly became hot, according to a 2023 report by Housing Hub of New Brunswick. The report said New Brunswick’s average home prices grew 53 per cent between June 2020 and February 2023, driven in part by tens of thousands of new residents from other provinces.

In response, the Liberals froze tax assessments in 2025 to give the government time to review the tax structure. Premier Susan Holt has said she wants a fair and stable system for property taxes, and has given her party until the 2027 tax year to come up with a new structure.

The Liberals refused to comment on their upcoming legislation, saying they will issue news releases for major bills on the morning they are to be introduced in the legislative assembly.

Members are scheduled to sit for eight days over the next two weeks, then take a one-week break before returning for another three weeks.

Nearly a dozen members will kick off the action Tuesday morning by continuing an effort to update the province’s Clean Water Act. Executives with oil giant J.D. Irving Ltd., a municipal advocacy group and an environmental lawyer will appear before the climate change and environmental stewardship committee.

David Coon, leader of the two-member Green Party caucus, says his party will be pushing to strengthen clean water laws.

“The protection of our lakes and rivers from pollution has to be improved, and as does the process for conserving wetlands,” Coon said. He added that safe drinking water measures also need to be bolstered.

This report by The Canadian Press was first published May 5, 2026.

Eli Ridder, The Canadian Press